Privacy Coin Surge Defies EU Regulations: Zcash-NEAR Hits 120K Users

NEAR Intents activity has surged following the integration of Zcash's Zashi wallet, with transaction volumes nearly doubling month-on-month and user counts surpassing 120,000. Over the past 30 days, nearly $800 million in swaps and payments have flowed through the platform, bringing cumulative totals to $1.8 billion since its launch earlier this year. The integration of privacy-focused features like Zashi Swaps and CrossPay is enhancing user experience and expanding Zcash's market presence.

The Zashi wallet, developed by the Electric Coin Company, now supports two live features on NEAR Intents: Zashi Swaps allow users to convert assets such as BTC and USDC directly into ZEC within the app, while CrossPay enables spending of shielded ZEC to receive funds in their preferred crypto on any NEAR-supported chain. These tools simplify cross-chain transactions by automating routing and reducing gas costs, attracting traders seeking privacy and efficiency.

Zcash's price has quadrupled in the past month, aligning with the growing demand for privacy-preserving protocols. The Zcash-NEAR integration creates a seamless on-ramp for everyday users, making shielded ZEC transactions more accessible. This synergy is setting a template for other privacy wallets to adopt intent-based systems, where the protocol handles execution while user-facing apps manage demand.

Data indicates broadening adoption, with USDC, WETH, and emerging tokens dominating volume rankings, and Ethereum, Solana, and Zcash leading in blockchain coverage. Unique active users reached 113,000 in the past week, suggesting sustained engagement rather than short-term incentives. The bundling of orders by relayers has reduced transaction failures and compressed costs, further attracting cross-chain activity.

Electric Coin Company's CEO, Ian Swihart, highlighted the strategic importance of privacy in today's regulatory environment, noting that Zcash's shielded transactions address growing concerns around surveillance and censorship. The collaboration with NEAR Intents reflects a broader trend of privacy coins gaining traction as institutional interest rises, exemplified by Grayscale's recent launch of a Zcash Trust for accredited investors.

While the European Union plans to ban privacy-preserving cryptocurrencies under its 2027 AMLR rules, the Zcash-NEAR integration underscores the persistent demand for private transactions. Analysts draw parallels to Monero's past surges, attributing the current rally to heightened regulatory scrutiny and the appeal of zero-knowledge proof systems like zk-SNARKs. Despite delistings on some centralized exchanges, Zcash's cross-chain utility and shielded transaction adoption continue to grow.

The integration highlights a shift toward intent-based systems that streamline multi-chain interactions, offering a blueprint for future privacy-focused innovations. As Zcash's market capitalization exceeds $1.8 billion, the collaboration with NEAR Intents signals a maturing ecosystem where privacy and usability coexist, positioning the pair as a key player in the evolving crypto landscape.

Source: [1] Coindesk (https://www.coindesk.com/markets/2025/10/09/near-intents-activity-spikes-as-zcash-s-zashi-wallet-taps-it-for-private-swaps)

[2] Kanalcoin (https://www.kanalcoin.com/near-intents-zcash-zashi-integration/)

[3] Yahoo Finance (https://finance.yahoo.com/news/zcash-zec-explodes-100-privacy-210216464.html)