Zcash Open Development Lab raises $25M from Paradigm, a16z, and Coinbase Ventures to build Zodl, a self custodial privacy wallet for Zcash.
Zcash Open Development Lab (ZODL) has raised more than $25 million in seed funding to support development of a self custodial privacy wallet for the Zcash network.
The funding round included major crypto investors and technology leaders. The capital will support the growth of Zodl, a wallet designed to expand access to private digital payments using shielded Zcash transactions.
Major Investors Back ZODL Funding Round
ZODL confirmed that the seed funding round exceeded $25 million. The round attracted several well known investors from the digital asset sector.
Participating firms include Paradigm, a16z crypto, Winklevoss Capital, and Coinbase Ventures.
Zcash Open Development Lab (ZODL) announced it has raised over $25 million in seed funding from investors including Paradigm, a16z crypto, Winklevoss Capital, and Coinbase Ventures. It amis to support development of Zodl, a self-custodial privacy wallet for Zcash.…
— Wu Blockchain (@WuBlockchain) March 9, 2026
Other investors joined the round as well. These include Cypherpunk Technologies, Maelstrom, and Chapter One. Several angel investors also participated in the funding round.
Individual backers include Balaji Srinivasan, David Friedberg, Haseeb Qureshi, Mert, and James Nicholas. The group represents a mix of investors from the crypto industry and the technology sector.
The funding will support development of tools and infrastructure for the Zcash ecosystem. ZODL stated that the capital will also help expand the engineering team.
The organization plans to hire developers and product specialists.
ZODL Develops Zodl Privacy Wallet
The main project supported by the funding is the Zodl wallet. Zodl is a self custodial wallet designed for private transactions on the Zcash network.
The wallet allows users to control their digital assets without relying on centralized custodians.
Zodl was previously known as Zashi before a later rebrand. The application focuses on improving access to shielded Zcash transactions.
These transactions protect details such as sender, receiver, and transaction amount.
Developers designed the wallet to improve usability for privacy focused payments. The platform also supports digital asset swaps using ZEC.
According to project data, the wallet has already processed large volumes of ZEC swaps.
ZODL aims to build Zodl as an open financial interface for Zcash. The team plans to expand partnerships and improve interoperability with other services in the crypto ecosystem.
Team Transition From Electric Coin Company
ZODL was founded by Josh Swihart, the former chief executive officer of Electric Coin Company. The Electric Coin Company played a central role in the early development of Zcash.
During his time at the company, Swihart helped guide the creation of the Zodl wallet. The wallet became one of the primary tools for interacting with the Zcash network.
Earlier this year, the Electric Coin Company team joined ZODL. The transition included engineers and product developers who built the wallet and maintained core systems.
These engineers previously worked on several important parts of the Zcash protocol. The same team continues protocol development within the ZODL organization.
Related Reading: Zcash (ZEC) Price Faces Heavy Pressure, Eyes $300 After Core Developer Split
Zcash shielded Usage Continues to Grow
ZODL reported strong growth in shielded activity on the Zcash network. The Zodl wallet has played a role in this expansion since its release.
Since the wallet launched in 2024, the Zcash shielded pool has increased by more than 400%. Shielded transactions allow users to transfer funds while protecting transaction data.
— Zashi → Zodl (@zodl_app) March 9, 2026
Project data also shows that the wallet supported more than $600 million in ZEC swaps since October 2025. The activity reflects growing use of privacy features within the network.
Developers continue to work on improvements to the Zcash protocol. The engineering team focuses on updates that support usability and network efficiency. The new funding will support additional development and hiring across the project.
