Developers of Zcash are creating a new wallet, cashZ, following their split from Electric Coin Company. The new wallet will be based on the existing Zashi codebase and is set to launch in a few weeks. Over 3,800 users have signed up for the new wallet. ZEC price has seen a minor recovery after dropping 21% post-split, currently trading at $430.

Former ECC CEO Josh Swihart explained that the team’s decision to start a new company was rooted in Zcash’s cypherpunk ethos and the need for an organization aligned with privacy values. The split was also driven by the desire for rapid scalability and innovation without nonprofit constraints. ZEC is down 86% from its all-time high and 38% from its 2025 peak.

Despite the recent turmoil, the Zcash team remains committed to full-stack development. Swihart emphasized that the focus is on scaling Zcash, not creating new coins. The split from ECC was necessary to establish a Zcash-focused entity dedicated to advancing privacy in the crypto space. ZCash developers aim to return to their cypherpunk roots and prioritize innovation and privacy rights.

Read more at Cointelegraph: Zcash Developers Launch CashZ Wallet After Leaving ECC