The American exchange Gemini has implemented support for output of Zcash cryptovoltaics to shaded (- shielded) addresses to increase financial privacy of its users.
According to Gemini, this step makes it the first regulated exchange to offer this feature to its customers. Its closest competitor, Coinbase, for example, does not support output on shaded Zcash addresses.
The company noted that the new option will allow users to protect their personal data and hide the size of transactions from prying eyes. "If you want to take advantage of shaded output, just output ZEC to the z address," she writes.
In a conversation with The Block, a representative of the exchange said that the implementation of this opportunity was preceded by "talks with regulators and further educational activities on cryptology with increased privacy.
"Gemini maintains records of all transactions that leave our system. At this stage, we have full transparency, but once the funds are withdrawn to the shaded pool, we can no longer track the movements of client funds," he added.
Zcash deposits from z addresses can be credited to both Gemini and Coinbase.