Gemini Integrates Support for Shielded ZEC Withdrawals
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Sept. 29, 2020
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Cryptocurrency exchange Gemini has revealed that shielded zcash (ZEC) withdrawals are now fully supported on the platform.

With the new feature, the exchange wants to take another step toward giving its users back control of their privacy.

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The support also shows that with the right management and the proper education, "regulators can get comfortable with privacy-enabling cryptos," Gemini adds.

According to Zcash's official website, the shielded addresses include the privacy enhancements provided by zero-knowledge proofs. The Sapling network upgrade introduces a new shielded address for improved efficiency and functionality.

If users want to take advantage of a shielded withdrawal, they can simply withdraw the ZEC tokens to any z-address wallet, the exchange points out. Users can also deposit ZEC from a z-address into a Gemini account.

"We are excited to bring this privacy functionality to you and look forward to continuing to give you greater choice, independence, and opportunity through crypto," Gemini said in an official announcement.

Earlier in September 2020, Winklevoss brothers-founded Gemini announced extension of decentralized tokens (DeFi) on the platform.

The exchange now supports for both trading and custody the following DeFi assets: Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI), and Yearn.finance (YFI).

Gemini believes that the DeFi revolution "is coming into bloom and it presents the possibility of permissionless, bankless, alternatives to the legacy financial system."

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