Aztec Labs Relaunches zk.money Wallet for Private Ethereum Payments

Aztec Labs is relaunching zk.money, a self-custodial wallet designed to obscure payment amounts, balances, and recipient identities. The platform allows users to send funds using readable names or payment links rather than standard wallet addresses.

The wallet supports deposits of DAI, USDC, and USDT from Ethereum. While USDC and USDT are converted to DAI upon entry, DAI serves as the primary currency within the zk.money ecosystem. CEO Joe Andrews stated that the firm selected DAI due to its decentralized nature among mass-market stablecoins.

Transactions conducted on the Aztec Network remain private, though the initial deposit from an Ethereum wallet remains publicly traceable. The system is currently in an early Alpha release, which includes specific usage constraints. Each deposit, payment, and withdrawal is capped at $2,500, and there is a shared daily deposit limit of $50,000 for all users.

The wallet also incorporates a sanctions policy that screens Ethereum addresses during deposits and withdrawals. A sealed server co-signs operations, though Aztec Labs maintains that it cannot access or freeze user funds.

The platform charges 35 cents for deposits and 20 cents for withdrawals, plus standard Ethereum network fees. Users are provided with 100 sponsored transactions daily, though payments may be delayed if the contract covering network fees lacks sufficient funds.

Aztec Labs noted that the software has not undergone a full security audit, and the team acknowledged the possibility of critical bugs. A separate system, Oxide, is intended to monitor payments for errors. The original version of zk.money operated from 2021 to 2024, processing over $100 million across more than 75,000 wallets.