Gemini users can withdraw Zcash to shielded addresses

The cryptocurrency exchange Gemini, owned by the Winklevoss brothers, has added support for shielded withdrawals of the privacy-focused cryptocurrency Zcash.

Gemini now supports shielded Zcash $ZEC withdrawals! This is an exciting moment for #crypto, marking the first time shielded $ZEC withdrawals are available on a regulated #exchange.

More about Zcash and different types of $ZEC transactions here: https://t.co/VuwL1G8IEs

— Gemini (@Gemini) September 29, 2020

Enabling this feature will enhance user privacy—hiding transaction amounts as well as the sender’s identity.

Gemini says the platform is the first regulated exchange to support withdrawals via shielded Zcash transactions.

Representatives of Gemini emphasised that implementing this capability was achieved after lengthy negotiations with regulators.

In September, Gemini began operating in the United Kingdom.

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