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  • Reliance Global has shifted 100% of its digital asset treasury into Zcash.
  • Zcash’s privacy-focused but compliance-ready design was the primary driver.

Nasdaq-listed Reliance Global has executed a rare and decisive treasury restructuring by converting its entire crypto portfolio into Zcash (ZEC). This is after months of internal evaluation, during which the company reassessed its digital asset exposures and long-term risk framework. 

The company is not the only one looking to convert its portfolio to ZCash. As we reported earlier this month, VanEck Investments CEO Jan VanEck said Zcash is one of the safest alternatives, especially since Bitcoin could be at risk from quantum computing. VanEck could be looking to diversify into Zcash.

Not everyone in the industry agrees with Reliance Global’s vision. Bloomberg analyst Eric Balchunas commented on X that Zcash “has third-party candidate vibes,” suggesting investors may be better off integrating ZEC’s ideas into more dominant networks like Bitcoin rather than “splitting the vote” during a sensitive market period.

Zcash has third party candidate vibes, like Gary Johnson or Jill Stein. Seems like you better off folding in their ideas to the main party vs splitting the vote, which could have major consequences, especially in such a crucial time for btc. I don't get it. I'm just an ETF guy… https://t.co/5RMyJl3sUj

— Eric Balchunas (@EricBalchunas) November 22, 2025

According to Reliance Global, Zcash has a role as a privacy-preserving yet compliance-friendly asset. The firm noted that its previous holdings no longer aligned with the company’s updated treasury efficiency criteria and data-security guidelines. Primarily, the company was holding assets such as Bitcoin, Ethereum, and Solana. The company identified Zcash as a better match for the firm’s operational needs.

The company did not disclose the exact timeline of its reallocations. However, the executives described the transition as part of a broader digital-asset modernization plan to strengthen treasury resiliency. This includes prioritizing assets with predictable supply mechanics, strong cryptographic protections, and reputable development foundations.

The Nasdaq-listed Reliance Global Crypto Advisory Board Member, Moshe Fishman, said:

“Our decision to consolidate our DAT into Zcash reflects a high-conviction belief in ZEC’s long-term potential,”

Reliance Global is Not the Only Firm Acquiring Zcash 

Several institutions explore hedging strategies that combine privacy with regulatory compatibility. Part of the reason is that Zcash’s use of zero-knowledge proofs. This enables it to process encrypted transactions without compromising auditability. This is suitable for enterprise operators looking to safeguard transactional data, and there are a lot.

Reliance Global emphasized that the update is designed to support multi-year corporate planning, suggesting the ZEC position is not a short-term play but part of a longer treasury horizon. The company added that it will continue monitoring infrastructure updates from the Zcash Foundation and the Electric Coin Company as part of its ongoing assessment.