Aztec Labs relaunches zk.money privacy wallet after nearly three years
Crypto News reports Aztec Labs has relaunched zk.money, a custody-model wallet on the Aztec Network that lets users pay in stablecoins without exposing the recipient, amount or balance.
Why it matters
The relaunch puts a working privacy payment layer back on a zero-knowledge rollup, and the automatic conversion of USDC and USDT into DAI means Aztec Labs's wallet effectively funnels users into a single stablecoin for payments. The scope of the early-version restrictions, not yet detailed in the reporting available, determines how usable the tool is in practice. Only one outlet has reported the relaunch, so the significance is limited on current evidence.
Key facts
Aztec Labs has relaunched the zk.money privacy wallet, which the company shut down in 2024.
Reported by Crypto News (CryptoNews.net)
The wallet shut down in 2024 and had been offline for nearly three years before the relaunch.
Reported by Crypto News (CryptoNews.net)
zk.money uses a custody model.
Reported by Crypto News (CryptoNews.net)
Stablecoins transferred from Ethereum can be sent privately on the Aztec Network, hiding the amount sent, the recipient's identity and the user's balance from public view.
Reported by Crypto News (CryptoNews.net)
Users can deposit DAI, USDC or USDT into zk.money.
Reported by Crypto News (CryptoNews.net)
USDC and USDT deposits are converted to DAI on login, and payments inside zk.money are processed in DAI.
Reported by Crypto News (CryptoNews.net)
The early version of the relaunched wallet carries significant usage limitations, which the report does not itemise.
Reported by Crypto News (CryptoNews.net)
What happened
Crypto News reports that Aztec Labs has relaunched its privacy-focused zk.money wallet, which the company shut down in 2024 after roughly three years of being offline. The relaunched wallet runs on the Aztec Network and uses a custody model, so users deposit Ethereum-based stablecoins and pay privately inside zk.money, where the amount sent, the recipient and the user's balance stop being visible on chain. Crypto News says users can deposit DAI, USDC or USDT, but that USDC and USDT deposits are converted to DAI at login and that every payment inside zk.money settles in DAI. The same report notes meaningful restrictions in this first version without specifying what they are. One outlet is the only evidence here, so Aztec Labs's own account of the relaunch, the scope of those limits and any third-party confirmation are unconfirmed.
How the story developed
- First report
First report by Crypto News (CryptoNews.net)
The Three-Year Wait is Over for Ethereum, the Privacy Wallet is Back! Here Are the Details
- Update
Aztec Labs shuts down the zk.money wallet
Crypto News states the wallet was shut down in 2024 and stayed offline for nearly three years.
- Update
zk.money relaunched on the Aztec Network with DAI-only payments
Crypto News reports the relaunch, the custody model, the DAI, USDC and USDT deposit options and the conversion of USDC and USDT into DAI at login.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto News (CryptoNews.net) Aggregator | The Three-Year Wait is Over for Ethereum, the Privacy Wallet is Back! Here Are the Details | Original |
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