Zcash ($ZEC) Zcash Open Development Lab (ZODL), an organization founded to advance a privacy-focused digital asset ecosystem, rose 3% to around $216 on Monday after securing more than $25 million in a funding round that attracted participation from Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, and other prominent crypto investors.
The round also included support from Cypherpunk Technologies, Maelstrom, Chapter One, and private investors including Balaji Srinivasan, David Friedberg, Haseeb Qureshi, and James Nicholas. A group of angel investors in the crypto and technology sectors also participated.
https://t.co/MtgE0AF2eg
— Zashi → Zodl (@zodl_app) March 9, 2026
Josh Swihart, former CEO of Electric Coin Company, founded ZODL in early 2026 to continue developing the Zcash protocol and its primary user applications. This lab focuses on protocol support, shielding transactions using zk-SNARK, and user tools.
During his tenure at ECC, the organization launched the Zodl wallet (previously known as Zashi). This has become the go-to interface for Zcash users seeking private transactions. Wallets have become a critical infrastructure for the ecosystem.
Since the wallet’s debut in 2024, usage metrics have increased significantly. Zcash’s shielded pool, which holds funds that benefit from the protocol’s privacy features, has grown by more than 400%.
The filing also facilitated more than $600 million in funding. $ZEC Swaps since October indicate a large volume of trades flowing through the platform.
The participation of cryptocurrency institutional investors shows renewed interest in privacy-preserving technologies in the digital asset space.
Paradigm and a16z crypto have historically backed projects across decentralized finance, layer 1 protocols, and infrastructure businesses, and their involvement in privacy-focused ventures is notable as regulatory scrutiny of anonymous transactions continues.
For Zcash holders, this funding will ensure continued active development at both the protocol and wallet layers.
The lab aims to make Zodl a global, open self-custodial financial platform while continuing to develop the protocol. The new capital will be used to hire engineers and support the expansion of ZODL’s role in the growth of the Zcash ecosystem.
Disclosure: This article was edited by Vivian Nguyen. Please see our Editorial Policy for more information on how we create and review content.
