Aztec relaunches zk.money for private Ethereum stablecoin payments

Aztec Labs relaunched zk.money on Tuesday as a self-custodial wallet for private stablecoin payments on Aztec Network. Early transactions are limited to $2,500 each. All users share a $50,000 daily deposit ceiling. Deposits from Ethereum remain public, but payments within zk.money are hidden. Users can send USDC, USDT or DAI from an exchange or Ethereum wallet. Aztec's developer documentation describes Aztec Network as an Ethereum layer-2 that settles back to Ethereum. The user's device generates zero-knowledge proofs to validate transactions without revealing their details. According to Aztec's posts, users can claim a tag that resolves through the Ethereum Name Service to a deposit address. Aztec says it cannot spend or freeze users' funds. Aztec said the original zk.money attracted more than 75,000 wallets. Aztec said it processed $100 million in volume before the team shelved it to build its own network.