Unstoppable Domains and Cake Wallet have teamed up to offer Monero users new solutions for improved convenience and privacy.
A New Level of Convenience for Monero Users
Unstoppable Domains announced the launch of new .xmr domains, allowing Cake Wallet and Monero users to manage tokens through human-readable addresses instead of long alphanumeric strings. This is expected to simplify Monero usage and support broader adoption.
Providing More Privacy
With the partnership with Cake Wallet, users will be able to use unique .xmr usernames, enabling Monero holders to create unique digital identities for easier interactions with other blockchain networks. Unstoppable Domains COO, Sandy Carter, stated that this collaboration is not just about simplifying Monero usage but also providing more control over digital identities. Quote: "It's about providing Monero users with the privacy and security they expect."
Regulatory Challenges for Monero
Monero, known for its privacy-focused features, is facing regulatory challenges. Currently, XMR trades at around $164 with a market capitalization of over $3 billion. However, Monero faces pressure from regulators, resulting in the withdrawal of its support from some major platforms. For instance, on October 2, cryptocurrency exchange Kraken ended support for XMR in the European Economic Area due to compliance requirements.
The introduction of new .xmr domains by Unstoppable Domains and Cake Wallet offers Monero users more options for managing privacy and digital identities, despite regulatory challenges.
