Former Electric Coin Company developers unveiled a new Zcash wallet after leaving amid a governance dispute over funding and control.
Posted January 9, 2026 at 7:23 am EST.
The former Zcash development team from Electric Coin Company (ECC) has launched a new wallet called cashZ following their mass exit due to a governance dispute with nonprofit overseer Bootstrap.
“We are all in on Zcash. We need to scale Zcash to billions of users. Startups can scale, but nonprofits can’t. That’s why we created a new Zcash startup,” said Josh Swihart, ex-CEO of ECC, on X.
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The cashZ wallet builds directly on the existing Zashi codebase, aiming to scale Zcash for broader adoption with seamless migration for current Zashi users. Zashi is the official mobile wallet for Zcash.
Swihart said earlier this week that the team had chosen to leave because their employment terms had changed in ways that made it “impossible” to perform their duties effectively.
Industry watchers believe that issues stem from Zcash ending its 12% “dev tax” on miner rewards, moving $35 million into a governance-controlled Lockbox. Stalled unlocks left developers without funds to advance the protocol.
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