Iron Fish
Iron Fish is a zero-knowledge Layer-1 blockchain using zk-SNARKs to enable private cryptocurrency transactions, serving privacy-conscious users, DAOs, DeFi protocols, and developers. Its multi-asset privacy engine spans 20+ EVM chains; the development team was acquired by Coinbase in March 2025.
- Company typePrivate
- Founded2020
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Iron Fish does
Iron Fish is a zero-knowledge Layer-1 blockchain founded in 2020 by Elena Nadolinski (previously at Airbnb, Tilt, and Microsoft) and headquartered in San Francisco. The protocol uses zk-SNARKs with the Sapling protocol to make every transaction private by default — sender, recipient, and amount are encrypted end-to-end and validated via zero-knowledge proofs. Its native $IRON token (genesis 42M, terminal supply ~257M) serves as the medium of exchange, transaction fee currency, and mining reward. Iron Fish is the first privacy chain to support multi-asset private transactions, allowing any crypto asset to be bridged in via ChainPort (covering 20+ EVM-compatible chains). The protocol distinguishes itself from other privacy coins through a built-in compliance layer: ChainPort provides OFAC-based sanctions screening and real-time threat detection, while view keys enable optional audit-grade disclosure without surrendering spending control. Fish Hash, introduced via the first hardfork, is a GPU-friendly, ASIC-resistant proof-of-work algorithm.
The product suite spans a desktop Node App, CLI, OreoWallet browser extension, Iron Fish Mobile App (TestFlight), Ledger hardware integration with multi-sig DKG support, a native bridge, and developer RPC APIs. Distribution is product-led and self-serve: users download software directly, no KYC required, and interact with the open-source protocol via Discord, GitHub, and Discourse governance. The company raised approximately $27.6M–$28M in a November 2021 Series A led by Andreessen Horowitz with Sequoia and Elad Gil. In March 2025, Coinbase acquired the Iron Fish Devco team to integrate the privacy engine into Base for private stablecoin transactions, and in April 2026 the Iron Fish Foundation announced a transition to maintenance mode — ceasing active development, closing Discord, and ending future grants, while the network continues to run decentralized via node operators and miners. SuiFish, the v2 privacy engine deployment on Sui, is being spun off as an independent project.
Iron Fish firmographics
Firmographics- Name
- Iron Fish
- Legal name
- Iron Fish Inc.
- Website
- https://ironfish.network
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Iron Fish is a zero-knowledge Layer-1 blockchain using zk-SNARKs to enable private cryptocurrency transactions, serving privacy-conscious users, DAOs, DeFi protocols, and developers. Its multi-asset privacy engine spans 20+ EVM chains; the development team was acquired by Coinbase in March 2025.
- Ownership category
- akta.pro rank
Iron Fish industry classification
Industry- Product category
- Privacy Blockchain / Layer-1 Blockchain Protocol
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD)
- akta.pro secondary industries
- Regulatory Reporting, Tax & Audit Trails (reconciliation, provenance) (FSAPAJAI), Compliance Identity & KYC/KYB for Wallets (on-chain identity, reusable KYC, travel rule tooling) (FSAPACAL)
Keywords
Where Iron Fish is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
Iron Fish business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- Mining Rewards: Miners receive block rewards through the Iron Fish emissions curve. The mining reward is tied to an inflation schedule starting with a genesis of 42M tokens, with block rewards decreasing over time. The terminal supply is capped at 256,970,400 coins.
- Transaction Fees: Users pay transaction fees in $IRON when making transfers on the Iron Fish network. The $IRON coin serves as the currency for transaction fees.
- Bridge Fees: Revenue is generated through bridging fees when users transfer assets from other chains to Iron Fish via ChainPort bridge, enabling private transactions on the Iron Fish network.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free to use protocol — no licensing or subscription fees |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels8 records
Iron Fish product offering
Product offeringCore offering
Iron Fish operates a zero-knowledge Layer-1 proof-of-work blockchain where every transaction is encrypted end-to-end, hiding the sender, recipient, and amount while being validated by zk-SNARKs. The protocol supports multi-asset private transactions so any token bridged via ChainPort inherits the same privacy guarantees, with optional view keys for compliance disclosure. The product suite includes a desktop Node App, CLI, OreoWallet browser extension, mobile app, native Bridge.IronFish, and Ledger integration, with the $IRON token used for gas and miner rewards.
Product overview
Iron Fish is a Zero-Knowledge Layer-1 blockchain offering optional privacy for digital assets across multiple chains. The core product is the Iron Fish Network, a proof-of-work blockchain using zk-SNARKs and the Sapling protocol where all transactions are private by default. The product suite includes the Node App (desktop GUI for wallet and node management), Iron Fish CLI (command-line interface), Oreowallet (browser extension), and Iron Fish Mobile App (iOS mobile wallet). Users can interact via Ledger hardware wallets or conduct bridge operations through ChainPort and the native Bridge.IronFish. The native $IRON token serves as the network's cryptocurrency. Iron Fish v2 extends the privacy engine to other chains like Sui (SuiFish) and Base through Coinbase integration.
Differentiator
Problem solved
Functional benefit
Brands
- OreoWallet: Self-custody browser extension wallet for secure asset transactions and storage, built by the community through an ecosystem grant.
- SuiFish
- IF Labs
Products and services
- Iron Fish Network Zero-Knowledge Layer-1 blockchain that provides default privacy for all transactions via zk-SNARKs and the Sapling protocol, hiding sender, recipient, and amount while confirming validity. Supports multi-asset private transactions of any bridged crypto asset.
- $IRON Token Native cryptocurrency of the Iron Fish network; serves as medium of exchange, currency for transaction fees (gas), and block reward issued to miners under the emissions curve.
- Iron Fish Node App Desktop GUI application that lets users set up a wallet, run their own node, send and receive secure transactions, and manage accounts. Supports Ledger hardware wallet integration and asset bridging. The official supported wallet of the Iron Fish network.
- Iron Fish CLI Command-line interface for running and interacting with an Iron Fish node. Supports wallet operations, mining, peer management, RPC interaction, multisig operations, and chain operations.
- OreoWallet Browser Extension
Quantifiable outcome
- 39+ million fully shielded ZKP transactions during testnet Phase 2 (December 2021 – February 2023)
- +4 more outcomes
Companies that use Iron Fish
Customer profileNamed customers1 record
Segments6 records
Ideal customer profiles6 records
Iron Fish technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
AI capability1 record
Feature7 records
Iron Fish partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and flagship.
- IF LabscoreIF Labs is a wholly independent company focused on building and maintaining the Iron Fish product. Received 5% of genesis block tokens. Guided and advised by the community, IF Labs developers expand the ecosystem and ensure continued product development.
- ChainPortflagshipChainPort is the primary bridge partner enabling Iron Fish's privacy features across 20+ EVM-compatible chains. ChainPort provides security-critical sanctions screening via OFAC lists, DeFi hack blacklists, and real-time threat detection. Malicious addresses are dynamically added to an Exclusion List, and ChainPort can freeze affected tokens.
- CoinbaseflagshipCoinbase acquired the Iron Fish Devco team in March 2025. Coinbase CEO Brian Armstrong announced that Base (Coinbase's Ethereum Layer-2 network) is developing private stablecoin transaction functionality using Iron Fish's zero-knowledge proof technology. The privacy solution leverages view keys that can be shared with authorities for compliance.
- OreowalletcoreOreowallet built the backend infrastructure (specialized server hosting view keys) that powers the Iron Fish Mobile App, enabling fast mobile sync times while keeping private keys on users' devices. Oreowallet was funded by the Iron Fish Foundation through an ecosystem grant and is an independent team.
- LedgercoreLedger partnered with Iron Fish for the first native private Ledger integration for privacy chains. Iron Fish has a dedicated Ledger app supporting single-signer and multi-sig (DKG) wallet flows. A June 2025 meme contest ('No One Needs to Know') was co-branded between Iron Fish and Ledger.
Scale indicators13 records
Recent moves7 records
Expansion highlights6 records
Iron Fish competitors and assessment
Company assessmentDirect peers
- Zcash: Zcash is the original zk-SNARK-based privacy cryptocurrency and the closest technical analogue to Iron Fish — both use zero-knowledge proofs to enable shielded transactions, target the same privacy-conscious crypto user base, and compete on regulatory positioning.
- Monero: Monero is the largest privacy-focused cryptocurrency by liquidity, serving the same primary segment of users seeking private on-chain transactions; it competes directly with Iron Fish for the privacy-coin narrative and exchange-listing mindshare despite using a different privacy technique (ring signatures vs. zk-SNARKs).
- Aleo: Aleo is a venture-backed Layer-1 blockchain using zero-knowledge proofs for private programmability; it targets similar developer and enterprise privacy use cases and competes with Iron Fish's multi-asset privacy positioning with stronger smart-contract capability.
- Manta Network: Manta Network is a privacy-focused Layer-2 on Ethereum using zk-SNARKs, directly competing with Iron Fish for private DeFi and multi-chain privacy use cases while offering Ethereum-aligned liquidity that Iron Fish lacks.
- Secret Network: Secret Network is a privacy-preserving smart contract blockchain with encrypted inputs/outputs and is a direct comparable to Iron Fish for the developer and DAO privacy use cases.
- Horizen: Horizen is a privacy-focused blockchain with zk-SNARK shielded transactions and sidechain/EVM compatibility — a comparable architecture targeting the same user segment and competing for privacy-coin liquidity.
- Oasis Network: Oasis is a Layer-1 blockchain with confidential computing and privacy features (Sapling-based shielded transactions), serving similar enterprise and developer use cases for private data and token transfers.
Emerging players
- Aztec Network: Aztec is an Ethereum L2 focused on encrypted smart contracts and private DeFi using zk-proofs; it is comparable to Iron Fish's privacy positioning and increasingly competes for institutional-grade private transaction volume.
Broad incumbents
- Coinbase: Coinbase acquired the Iron Fish Devco and is integrating Iron Fish's ZKP technology into Base — making Coinbase both the acquirer of the core team and the broader incumbent that now controls distribution of the Iron Fish privacy stack.
Others
- ChainPort: ChainPort is Iron Fish's flagship bridge partner and the provider of its regulatory compliance layer (OFAC screening, threat detection, exclusion lists); as an ecosystem enabler, ChainPort is the closest infrastructure comparator to how Iron Fish's privacy layer reaches 20+ EVM chains.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Iron Fish social profiles
Digital presenceIron Fish financial estimates
Financial estimateRevenue estimate
Valuation estimate
Iron Fish leadership team
Management profileNumber of profiles
Profiles1 record
Iron Fish subsidiaries and ownership
Company hierarchySubsidiaries2 records
Iron Fish funding detail
Funding detailFunding overview
Funding rounds2 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Iron Fish M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Iron Fish
What does Iron Fish do?
Iron Fish operates a zero-knowledge Layer-1 proof-of-work blockchain where every transaction is encrypted end-to-end, hiding the sender, recipient, and amount while being validated by zk-SNARKs. The protocol supports multi-asset private transactions so any token bridged via ChainPort inherits the same privacy guarantees, with optional view keys for compliance disclosure. The product suite includes a desktop Node App, CLI, OreoWallet browser extension, mobile app, native Bridge.IronFish, and Ledger integration, with the $IRON token used for gas and miner rewards.
Is Iron Fish a public or private company?
Iron Fish is a private company. It is classified as corporate owned and is currently operating.
When was Iron Fish founded?
Iron Fish was founded in 2020. It employs 11 to 50 people.
Where is Iron Fish based?
Iron Fish is headquartered in San Francisco, United States, in the North America region.
How does Iron Fish make money?
Three revenue lines are on record. Mining Rewards are the primary driver. The others are transaction Fees and bridge Fees.
Who are Iron Fish's main competitors?
Direct peers on record are Zcash, Monero, Aleo, Manta Network, Secret Network, Horizen and Oasis Network. Aztec Network is listed as an emerging player. Coinbase is listed as a broad incumbent. ChainPort is listed as an others.
Does Iron Fish have an API?
Yes. Iron Fish provides an RPC (Remote Procedure Call) layer that allows developers to interact with the node programmatically. The RPC API supports wallet operations (create accounts, send transactions, manage assets, mint/burn tokens, multisig operations), chain operations (broadcast transactions, get block info, get chain info, follow chain stream), node operations, peer management, mempool operations, and miner operations. The RPC can run over IPC (default port) or TCP (port 8020). Developers can use the CLI commands directly or build custom integrations using the RPC layer. Developer documentation is at ironfish.network/developers/documentation/integration_rpc.
What industry is Iron Fish in?
Iron Fish's product category is Privacy Blockchain / Layer-1 Blockchain Protocol. Its primary akta.pro industry code is FSADACAD, Wallet Infrastructure (SDKs, Wallet-as-a-Service), with a secondary code of FSAPAJAI, Regulatory Reporting, Tax & Audit Trails (reconciliation, provenance). Its NAICS code is 522320 and its SIC code is 6200.