The revamped wallet conceals payment details on the Aztec Network, while Ethereum deposits remain visible.
By Shaurya Malwa|Edited by Omkar GodboleSep 29, 2026, 12:00 p.m. EDT3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Ethereum's zk.money relaunch offers new private payment methods. (Ethereum)SummaryShow- Aztec Labs has reintroduced zk.money, a self-custodial wallet that utilizes the Aztec Network to obscure payment amounts, balances, and recipients while allowing transfers via recognizable names or links.
- Users can deposit DAI, USDC, or USDT from Ethereum, but USDC and USDT will be converted to DAI, and these deposits remain publicly traceable despite subsequent private transactions.
- The current Alpha version limits each deposit, payment, and withdrawal to under $2,500, enforces address screening according to a sanctions policy, and presents security risks as the software has not been fully audited.
When sending funds from a standard Ethereum wallet, the recipient can track the public transaction history. Fortunately, users now have several options to protect their privacy.
The most recent solution is from Aztec Labs, which has revived zk.money, a wallet designed to hide payment details while facilitating transactions through names or payment links.
According to Aztec Labs, users can deposit stablecoins pegged to the dollar, namely DAI, USDC, and USDT from Ethereum. The USDC and USDT will be converted to DAI, making DAI the sole currency used within zk.money.
On the Ethereum network, anyone with access to a wallet address can view its balance and trace past transactions, which can reveal a business's payments to suppliers or an individual's spending habits. zk.money shifts transactions onto the Aztec Network, which connects to Ethereum but keeps balances, amounts, and identities private.
Users have the option to request payments through a link or send money using a recognizable name like bob.zk.money instead of a lengthy wallet address. Aztec Labs emphasizes that the wallet is self-custodial, meaning that operators cannot access or freeze the funds within it.
“On-chain transactions between two individuals shouldn't mean publishing your financial history to the world,” stated Joe Andrews, CEO of Aztec Labs.
Andrews explained that Aztec Labs selected DAI because they view it as “the most decentralized of the mass-market stablecoins currently available on Ethereum.” He also mentioned that the wallet may support additional assets in the future.
Aztec's zk.money conceals payment details once funds are deposited. (Shaurya Malwa/CoinDesk)While Ethereum already has applications that provide privacy for transactions, transfers from regular wallets remain visible. Developers are considering modifications for the upcoming 2027 Hegotá upgrade that may enable privacy applications to manage transaction approvals and fees with reduced reliance on external services. These proposals are still under review, whereas Aztec Labs is reintroducing a wallet that users can utilize on its own network.
Read More: Ethereum’s next big upgrade has 66 proposals, including a major privacy fix
Capabilities and Limitations of zk.money
While transferring funds into the system still leaves a public record, Aztec’s documentation indicates that deposits from Ethereum disclose both the sender and the amount, even though the recipient on Aztec can remain confidential.
The relaunch comes with certain restrictions. Each deposit, payment, and withdrawal is capped at $2,500. All users collectively share a $50,000 daily deposit limit, which replenishes over time. These limits are described in the documentation as safeguards while the system is in its early stages, and increasing them would require a new contract.
“The limits are in place as the system is new and utilizes experimental cryptography,” Andrews explained to CoinDesk. He noted that Aztec Labs intends to increase these limits as confidence in the system grows and after a later version is released.
Depositing incurs a fee of 35 cents, plus Ethereum transaction costs, while withdrawals cost 20 cents. Users are allowed 100 sponsored transactions daily within zk.money, but payments may be delayed if the contract covering network fees runs out of funds or cannot meet the current fee requirements.
The wallet also screens Ethereum addresses used for deposits and withdrawals in accordance with a sanctions policy. An isolated server co-signs operations within zk.money, although the documentation states it cannot independently access a user's funds.
The original zk.money, launched in 2021, was discontinued in 2024. Aztec Labs reported that it served over 75,000 wallets and processed more than $100 million before ceasing operations.
Read More: DeFi privacy bridge Aztec Connect sunsets after less than a year
This network is currently in its early Alpha stage.
Aztec’s documentation cautions that the software has not undergone complete auditing, raising the possibility of critical bugs. Contributors identified a significant flaw in its V5 proof system in August, with plans for a resolution in V6. The relaunched zk.money does not specify what precautions are in place following that discovery.
Andrews mentioned that zk.money would be launched prior to the flaw being addressed and that a separate system named Oxide would verify payments for errors stemming from bugs in the network's software. Users will have the option to transition to the updated network once the fix is implemented.
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Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
By CoinDesk ResearchSep 24, 2026Commissioned byRealFiDiversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
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