Ethereum users get another way to pay privately as zk.money returns after three years
Aztec Labs has relaunched zk.money, a privacy-focused Ethereum wallet that allows users to send stablecoins while obscuring transaction amounts and recipient identities. The wallet uses the Aztec Network to provide anonymity, though initial deposits from Ethereum remain traceable.
Why it matters
This development represents a significant step in providing financial privacy tools for decentralized finance users on the Ethereum blockchain.
The latest alternative comes from Privacy developer Aztec Labs. The firm says it is bringing back zk.money, a wallet that hides payment amounts and recipients while letting people send money by name or payment link.
The firm told CoinDesk that users will be able to deposit the dollar-pegged stablecoins DAI, USDC and USDT from Ethereum. USDC and USDT are converted into DAI on the way in, leaving DAI as the only currency used inside zk.money.
On Ethereum, anyone who knows a person’s wallet address can see its balance and trace past transfers. That can expose a business’s payments to suppliers or an individual’s spending history. zk.money moves payments onto the Aztec Network, which is connected to Ethereum but hides balances, amounts and the people involved in transfers.
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