Gemini Enables Shielded Zcash Withdrawals to Ironwood Pool
Gemini Exchange has enabled shielded Zcash withdrawals to the Ironwood pool, one of the first regulated crypto exchanges to offer this feature. This move comes after the recent NU6.3 network upgrade on July 28, which activated Ironwood and permanently sealed the previous Orchard shielded pool.
The Ironwood pool was launched with a zero balance by design, as it aimed to start fresh after the security issue in Orchard was identified. The Orchard pool previously held around $1.7 billion worth of ZEC, making it a significant concern for users. To migrate their assets, users need to go through a 'turnstile' mechanism, moving coins from one shielded environment to the new, clean Ironwood pool.
On its first day, 176,000 ZEC, worth approximately $80 to $81 million, successfully transitioned into the new pool. The support for Ironwood withdrawals is not new for Gemini, as it had already been supporting Orchard shielded withdrawals since November 2025.