Former Zcash developers launch new cashZ wallet after leaving Electric Coin Company
Developers who recently left Electric Coin Company (ECC) en masse have announced the upcoming launch of a new wallet called cashZ, less than 24 hours after their high-profile departure. The wallet will be built on Zashi — the existing solution the team had been working on.
Former ECC CEO Josh Swihart said the team is using the same codebase to allow a “completely seamless migration” for Zashi users. The cashZ launch is expected within weeks. According to Swihart, more than 3,800 users have already registered on the project’s website for early access.
Developers say they left ECC due to governance disputes and a disconnect between the project’s mission and the nonprofit structure. Swihart stressed that scaling Zcash required an organization built for speed and innovation.
The team says it aims to bring Zcash development back to core cypherpunk values: privacy, open technology, and rapid execution. The cashZ website notes that cryptocurrency privacy should feel as natural as using physical cash.
Swihart gave three key reasons for creating the new structure:
- Zcash is a cypherpunk project and needs an organizational philosophy that reflects that.
- Internal rules and processes at nonprofit ECC were stifling innovation.
- Zcash has “reborn” over the past two years and now needs an agile company able to compete with Bitcoin, Ethereum, and Solana.
On the market, ZEC continues to rebound after falling more than 21% during the ECC turmoil. The token dropped below $400 but rose to $430 in Friday trading following the cashZ announcement. Even so, it remains far below its all-time high and its 2025 peaks.
The team says it is “100% focused” on the full Zcash development stack and plans to accelerate innovation without the bureaucratic constraints of the previous organization.
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