Ethereum · Decrypt
Ethereum Gets Another Privacy Boost as Aztec Brings Back zk.money
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Three years after pulling the plug, Aztec Labs is bringing zk.money back from the dead.
Key facts
- In 2021, brought private transactions to Ethereum: 75,000+ wallets and $100M in volume
- Early caps also apply, since transactions are limited to $2,500 each, and all users share a $50,000 daily deposit ceiling
- The original zk.money debuted in 2021 and drew more than 75,000 wallets and $100 million in volume, Aztec said, before the team shelved it to build its own network
- Back in 2021, Aztec raised $17 million in a Paradigm-led round
Summary
Aztec Labs relaunched zk.money, a privacy wallet it shut down three years ago, on its privacy-first Ethereum layer-2, Aztec Network. Users send stablecoins to tags like bob.zk.money. Transactions are capped at $2,500 during the early rollout. The privacy-focused Ethereum developer relaunched the self-custodial wallet Tuesday, letting users send and receive stablecoins without broadcasting balances, amounts, or recipients to the world.