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Certificate-based encryption (CBE) is a new asymmetric encryption paradigm which combines traditional public-key encryption (PKE) and identity-based encryption (IBE) while preserving some of their most attractive features. CBE provides an efficient implicit certificate mechanism and allows a form of automatic certificate revocation. It eliminates the third-party queries and simplifies the certificate revocation problem in the traditional PKI, while it is not subjected to the key escrow problem and key distribution problem inherent in IBE. In this paper, we propose an efficient pairing-based CBE scheme which is secure in the standard model under hardness of the mBDDH problem. When compared to the previous CBE schemes in the standard model, our scheme has obvious advantage in the computation and communication performance. It also offers performance competitive with those CBE schemes in the random oracle model.