Zenrock
Zenrock (UK, founded 2024) builds decentralized custody infrastructure for crypto assets via dMPC technology and its zrChain Layer 1, offering yield-bearing wrapped Bitcoin (zenBTC), wrapped Zcash (zenZEC), and a ZK-proof privacy protocol (Hush) to DeFi users on Solana.
- Company typePrivate
- Founded2024
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Zenrock does
Zenrock (Zenrock Laboratories Ltd) is a UK-based crypto infrastructure company founded in 2024 that builds decentralized custody and cross-chain asset solutions for the Solana ecosystem. Its core technology is dMPC (distributed Multi-Party Computation), where private keys are never fully reconstructed in a single location and instead co-authorized across an 8-operator institutional keyring. This capability underpins zrChain, a purpose-built Layer 1 blockchain using modified Tendermint consensus with dual CosmWasm/EVM support and built-in compliance modules, which serves as the settlement and custody backbone for the company's products.
The company monetizes through a transaction-fee model: a 0.5% fee on zenBTC and zenZEC redemptions is distributed as 35% to Zenrock Labs, 30% to signature providers, 30% to node rewards, and 5% to zenBTC yield. Its flagship product, zenBTC, is the first fully decentralized wrapped Bitcoin on Solana, backed 1:1 by BTC reserves and generating yield from protocol fees rather than token emissions or lending. zenZEC (wrapped Zcash) launched in October 2025, while Hush, a ZK-proof-based privacy protocol denominated in JitoSOL, launched in February 2026. The $ROCK token captures protocol-level value across the DCT (Decentralized Custody Token) standard.
Zenrock distributes entirely through self-serve channels (app.zenrocklabs.io) and integrates with leading Solana DeFi protocols — Kamino, Orca, Jupiter, MarginFi, Drift, Meteora, Loopscale — plus wallet providers Phantom, Solflare, and Ledger. Its 42-validator network spans 22 countries across 5 continents, and the company targets $50M+ TVL across 2+ DCTs by Q2 2026. Primary customer segments are BTC and ZEC holders seeking DeFi yield, DeFi protocols integrating wrapped assets as collateral, and privacy-conscious Solana users; institutional investors are a stated but still nascent segment.
Zenrock firmographics
Firmographics- Name
- Zenrock
- Legal name
- Zenrock Laboratories Ltd
- Website
- https://zenrocklabs.io
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Zenrock (UK, founded 2024) builds decentralized custody infrastructure for crypto assets via dMPC technology and its zrChain Layer 1, offering yield-bearing wrapped Bitcoin (zenBTC), wrapped Zcash (zenZEC), and a ZK-proof privacy protocol (Hush) to DeFi users on Solana.
- Ownership category
- akta.pro rank
Zenrock industry classification
Industry- Product category
- Blockchain Infrastructure
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (525990)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Custody Technology Platforms (Custody-as-a-Service) (FSADACAB)
- akta.pro secondary industries
- Smart Contract Wallets / Account Abstraction (MPC/AA, social recovery, paymasters) (FSAPACAB), Self-Custody Wallets (Consumer & Institutional) (FSADACAE), Smart Contract & Token Operations Infrastructure (Lifecycle, Corporate Actions) (FSAGAMAH)
Keywords
Where Zenrock is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Markets served
Zenrock business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Revenue model
- Custody and Minting/Redemption Fees: Zenrock charges a 0.5% fee on zenBTC and zenZEC redemption transactions. Fees are distributed according to tokenomics: 35% to Zenrock Labs, 30% to Signature Providers, 30% to Node Reward Pool, 5% to zenBTC yield.
- Cross-Chain Transaction Fees: Fees generated from cross-chain asset flows through the zrChain bridge and zenTP transfer functionality.
- DCT Fee Distribution to Network: 30% of all DCT fees are distributed to DCT TVL Providers (TVL-weighted), creating a revenue-sharing model with liquidity providers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | zenBTC Minting - Free |
| Transaction based/ take rate | Pay-as-you-go | zenBTC Redemption - 0.5% Fee |
| Freemium | Pay-as-you-go | zenZEC Minting - Free |
| Transaction based/ take rate | Pay-as-you-go | zenZEC Redemption - 0.5% Fee |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Zenrock product offering
Product offeringCore offering
Zenrock builds decentralized custody infrastructure for digital assets, primarily operating the zrChain Layer 1 blockchain and issuing Decentralized Custody Tokens (DCTs) such as zenBTC (yield-bearing wrapped Bitcoin) and zenZEC (wrapped Zcash) on Solana. Its dMPC (distributed Multi-Party Computation) technology secures assets across eight institutional operators, and the Hush protocol adds zero-knowledge privacy for Solana transactions.
Product overview
Zenrock is a platform-plus-modules architecture offering a unified custody layer for all onchain assets on Solana. The core product is zrChain, a purpose-built Layer 1 blockchain for institutional digital asset custody. The platform's main offerings are Decentralized Custody Tokens (DCTs) including zenBTC (yield-bearing wrapped Bitcoin), zenZEC (wrapped Zcash), and zenTP (cross-chain bridge). Hush provides the privacy layer for Solana using zero-knowledge proofs. The $ROCK token powers the ecosystem's fee distribution. All products are secured by distributed Multi-Party Computation (dMPC) technology, eliminating single points of failure in custody.
Differentiator
Problem solved
Functional benefit
Brands
- zenBTC: First yield-bearing wrapped Bitcoin on Solana, secured by dMPC decentralized custody. Allows BTC holders to earn yield while participating in DeFi.
- zenZEC
- zenTP
- Hush
- zrChain
- DCT Standard
Products and services
- zrChain Layer 1 blockchain purpose-built for institutional digital asset custody. Uses modified Tendermint consensus, dual VM support (CosmWasm and EVM), built-in compliance modules, and sub-second transaction finality. Operated by 42 validators across 22 countries and 5 continents.
- zenBTC Yield-bearing wrapped Bitcoin on Solana that never leaves the Bitcoin network. Secured by dMPC custody with eight institutional operators; 1:1 BTC-backed with yield derived from real protocol fees paid in native sats. Designed for BTC holders to participate in Solana DeFi.
- zenZEC Fully 1:1 backed wrapped Zcash on Solana built on the DCT standard and secured by dMPC custody. Enables ZEC holders to participate in Solana DeFi while preserving privacy characteristics.
- Hush Protocol Privacy protocol for Solana that lets users shield assets (JitoSOL) into a shared pool, transfer privately inside it, and unshield to any address with no onchain link between deposit and withdrawal. Pool denominated in JitoSOL and continues earning staking/MEV yield (~6-8%) while private.
- zenTP Bridge Cross-chain bridge for the Zenrock ecosystem enabling transfer of $ROCK between Solana and zrChain.
- DCT Standard Decentralized Custody Token standard that allows any token to be ported to another chain with signature-based security, native cross-chain capability, compliant self-custody, and embedded economics for TVL providers.
- Big Dipper Block Explorer Block explorer for the Zenrock/zrChain network providing visibility into validators, blocks, transactions, token stats, zenBTC TVL, and zenTP transfers.
Quantifiable outcome
- 160+ BTC custodied target
- +6 more outcomes
Companies that use Zenrock
Customer profileNamed customers14 records
Segments5 records
Ideal customer profiles3 records
Zenrock technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration21 records
Feature6 records
Zenrock partnerships and signals
Strategic signalPartnerships
26 partnerships are on record, tiered core and peripheral.
- SolanacorePrimary blockchain platform for Zenrock's DCT assets. zenBTC, zenZEC, and zenTP are issued on Solana. Solana's high throughput and low fees enable institutional-grade DeFi activity. Zenrock is the unified custody layer for all onchain assets on Solana.
- OrcacorePrimary DEX for zenBTC:zenZEC LP pool. Main trading venue for wrapped assets. Orca provides deep liquidity and incentivized pools (2,000,000 $ROCK + 1,500 $ORCA + 800,000,000 $ROCK for zenZEC:$ROCK LP).
- KaminocoreLeading Solana lending protocol. zenBTC ranked #1 BTC TVL on Kamino. Integration allows zenBTC to be used as collateral for borrowing.
- MeteoracoreDynamic vault platform providing liquidity infrastructure for zenBTC integration.
- JupitercoreAggregator integration for zenBTC swaps and routing across Solana DeFi.
- LI.FIperipheralCross-chain bridge aggregation for enhanced asset portability.
- DFlowperipheralOrder flow integration for improved routing of wrapped assets.
- TITANperipheralDeFi protocol integration for zenBTC composability.
- PhantomcorePrimary wallet integration for user access to zenBTC, zenZEC, and Hush. Recommended for ZEC purchases and trading.
- SolflarecoreWallet integration for accessing Zenrock protocols.
- LedgercoreHardware wallet integration for institutional-grade security of Zenrock asset management.
- marginficoreLending protocol integration for zenBTC as collateral.
- JitocoreLiquid staking integration. Hush privacy pool denominated in JitoSOL. Users can shield JitoSOL while continuing to earn staking and MEV yield (~6-8%).
- DriftperipheralPerpetual trading protocol integration for zenBTC.
- PYTHperipheralOracle price feed integration for accurate zenBTC exchange rates.
- Silk NodescoreGenesis dMPC keyring operator providing infrastructure for decentralized custody. One of the 8 institutional operators securing the Zenrock network.
- NethermindcoreGenesis dMPC keyring operator and blockchain infrastructure provider. Conducted security research for Zenrock ecosystem.
- Informal SystemscoreGenesis dMPC keyring operator providing formal verification and security expertise.
- InfStonescoreGenesis dMPC keyring operator and blockchain infrastructure provider. Part of the 8-operator dMPC network securing zenBTC.
- BCWcoreGenesis dMPC keyring operator and blockchain infrastructure partner. Featured in ZR Talks Episode 3.
- EigenLayercoreRestaking protocol integration for zenBTC. Provides advanced restaking capabilities and additional yield incentives for zenBTC holders through Actively Validated Services (AVSs).
- THORChaincoreCross-chain liquidity enabling zenBTC transfers across EVM and non-EVM chains. Poses endless liquidity opportunities for Bitcoin in DeFi markets.
- QuickNodecoreGenesis dMPC keyring operator and blockchain infrastructure provider.
- Lavender Five NodescoreGenesis dMPC keyring operator. Part of the trusted operator network securing the Zenrock dMPC keyring.
- LoopscalecoreBorrow/lend protocol supporting zenZEC as collateral. ZenZEC Vault (zenZEC:zenBTC LP) and zenBTC Vault (zenBTC:cbBTC LP) for incentivized positions with 1M ROCK tokens and 3x Loopscale points.
- Hush ProtocolcorePrivacy layer of Solana developed by Zenrock. Hush is the first and only yielding privacy layer on Solana. All value flows back to $ROCK. Developer documentation at hushprotocol.xyz/docs.
Scale indicators16 records
Recent moves6 records
Expansion highlights6 records
Zenrock competitors and assessment
Company assessmentDirect peers
- THORChain: THORChain provides native cross-chain liquidity between Bitcoin and other chains without wrapped assets. Zenrock is a THORChain integration partner for zenBTC, and THORChain addresses the same cross-chain BTC DeFi problem from a different architectural angle.
- Axelar: Axelar is a cross-chain interoperability network providing secure message passing and asset transfers across ecosystems. Zenrock's zrChain dual-VM architecture and DCT cross-chain design compete with Axelar's general-purpose interoperability stack for developer mindshare.
- Wormhole: Wormhole is a leading cross-chain messaging and bridging protocol. It competes with Zenrock's zenTP bridge and DCT cross-chain capability by enabling asset portability between chains, and serves similar Solana-native DeFi use cases.
- LI.FI: LI.FI is a cross-chain bridge and DEX aggregator that abstracts bridge selection for users. LI.FI is also a Zenrock partner for cross-chain asset portability, and the two compete for routing and bridging flow in the same DeFi UX layer.
- Threshold Network: Threshold operates tBTC, a decentralized wrapped Bitcoin using threshold cryptography across a node network. Like Zenrock's zenBTC, tBTC targets decentralized BTC bridging with 1:1 backing, making it the closest direct peer in product architecture and positioning.
Broad incumbents
- LayerZero: LayerZero provides omnichain messaging infrastructure used to build cross-chain token and application flows. Zenrock's DCT standard competes for the same cross-chain infrastructure wallet, although LayerZero focuses on messaging rather than custody.
- Coinbase (cbBTC): Coinbase's cbBTC is a major wrapped Bitcoin competing for the same BTC-in-DeFi capital flows. It shares Zenrock's goal of keeping BTC usable across chains but uses a centralized custodian model and benefits from Coinbase's brand and distribution.
- BitGo (wBTC): BitGo-issued wBTC is the largest wrapped Bitcoin asset and the incumbent Zenrock must displace. While wBTC uses centralized custodian custody versus Zenrock's dMPC, they target the same BTC-into-DeFi use case across chains.
Others
- EigenLayer: EigenLayer provides restaking infrastructure that Zenrock integrates for enhanced zenBTC yield via AVSs. While not a direct competitor, EigenLayer shapes the competitive yield environment and adjacent infrastructure economics Zenrock must operate within.
Emerging players
- Ren Protocol: Ren Protocol pioneered multi-chain wrapped assets (renBTC, renZEC) using secure multiparty computation. Although Ren has wound down, the comparison is direct: both use MPC to mint cross-chain representations of native assets like BTC and ZEC — Ren historically, Zenrock currently.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Zenrock social profiles
Digital presenceZenrock compliance and trust
Trust signalCompliance1 record
Zenrock financial estimates
Financial estimateRevenue estimate
Valuation estimate
Zenrock leadership team
Management profileNumber of profiles
Profiles4 records
Zenrock funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Zenrock 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 Zenrock
What does Zenrock do?
Zenrock builds decentralized custody infrastructure for digital assets, primarily operating the zrChain Layer 1 blockchain and issuing Decentralized Custody Tokens (DCTs) such as zenBTC (yield-bearing wrapped Bitcoin) and zenZEC (wrapped Zcash) on Solana. Its dMPC (distributed Multi-Party Computation) technology secures assets across eight institutional operators, and the Hush protocol adds zero-knowledge privacy for Solana transactions.
Is Zenrock a public or private company?
Zenrock is a private company. It is classified as venture growth investor backed and is currently operating.
When was Zenrock founded?
Zenrock was founded in 2024. It employs 11 to 50 people.
Where is Zenrock based?
Zenrock is headquartered in London, United Kingdom, in the Europe region.
How does Zenrock make money?
Three revenue lines are on record. Custody and Minting/Redemption Fees are the primary driver. The others are cross-Chain Transaction Fees and DCT Fee Distribution to Network.
Who are Zenrock's main competitors?
Direct peers on record are THORChain, Axelar, Wormhole, LI.FI and Threshold Network. Broad incumbents are LayerZero, Coinbase (cbBTC) and BitGo (wBTC). EigenLayer is listed as an others. Ren Protocol is listed as an emerging player.
Does Zenrock have an API?
No public API is recorded for Zenrock.
What industry is Zenrock in?
Zenrock's product category is Blockchain Infrastructure. Its primary akta.pro industry code is FSADACAB, Custody Technology Platforms (Custody-as-a-Service), with a secondary code of FSAPACAB, Smart Contract Wallets / Account Abstraction (MPC/AA, social recovery, paymasters). Its NAICS code is 525 and its SIC code is 6199.