Reliance Global Pivots Entire Crypto Treasury to Zcash

A Bold Bet from Wall Street

On November 25, 2025, Reliance Global Group, a Nasdaq-listed insurtech company, made a decision that shocked the crypto markets: it converted its entire digital asset holdings from Bitcoin, Ethereum, and other cryptocurrencies to Zcash (ZEC). This wasn't just a portfolio rebalancing—it was the strongest institutional endorsement of blockchain privacy technology to date.

From Diversification to Laser Focus

When Reliance Global first entered the crypto market in September 2025, it took a typical diversified approach: Bitcoin as the core, supplemented with Ethereum, Cardano, XRP, and Solana. The company even made significant Solana purchases as recently as last month, touting a "multi-value proposition" strategy.

But just months later, following a comprehensive strategic review led by Crypto Advisory Board Chairman Blake Janover, the company executed a complete about-face. The board concluded that Zcash provided the most compelling foundation for the company's long-term Digital Asset Treasury (DAT) program.

Why Zcash?

Crypto Advisory Board member Moshe Fishman stated that this decision reflects a "deep conviction" in Zcash's long-term role at the "intersection of cryptography, compliance, and financial privacy."

• Dual Transaction Model: Zcash's unique design supports both transparent and shielded transactions, satisfying privacy needs while meeting regulatory requirements.
• Technical Superiority: Utilizing zk-SNARKs zero-knowledge proof technology, Zcash provides mathematical-grade privacy protection.
• Regulatory Flexibility: Selective disclosure features make Zcash the most compliance-friendly privacy coin.

CEO Ezra Beyman noted that focusing on ZEC allows the company to "operate with greater clarity" as the digital economy evolves. This statement echoes a sentiment shared by many institutions: privacy isn't about avoiding regulation—it's a necessary tool for protecting trade secrets and user rights.

Zcash Renaissance: Market and Regulatory Momentum

Reliance Global's decision isn't an isolated event—it's riding a powerful wave of Zcash resurgence:

• Explosive Growth: ZEC has surged over 1,200% in the past 90 days, marking its largest rally since 2018.
• Exchange Relisting: OKX re-listed ZEC this week after previously delisting it, responding to renewed demand.
• Institutional Inflows: Winklevoss-backed Cypherpunk Technologies has accumulated over 233,644 ZEC (1.43% of total network).
• ETF Progress: Grayscale has filed with the SEC to convert its Zcash Trust to an ETF.

The Institutionalization of Privacy Coins

For years, privacy coins faced regulatory pressure and exchange delistings, with many believing their prospects were dim. But 2025 is witnessing a reversal:

On one hand, quantum computing threats are forcing institutions to reassess Bitcoin's security. On the other, advances in chain analysis are making the privacy vulnerabilities of transparent blockchains increasingly problematic. In this context, Zcash's optional privacy features have made it institutional favorite.

Reliance Global's complete pivot, combined with Cypherpunk Technologies' massive accumulation and public support from industry leaders like Arthur Hayes, all send the same message: Privacy is no longer a niche demand—it's a core value of digital finance.

Investment Implications

Reliance Global's shift from diversification to single-asset focus demonstrates institutional confidence in a "concentrated bet" strategy. When a Nasdaq-listed company is willing to stake its entire crypto portfolio on a single coin, the due diligence and strategic thinking behind that decision deserves serious consideration from all investors.

For those of us following Zcash's journey, these institutional moves are powerful indicators. When Wall Street starts taking privacy technology seriously, both Zcash's fundamentals and market dynamics have entered a new phase.