Cake Wallet users can now use.xmr domains in their blockchain interactions through the new partnership.
Blockchain domain provider Unstoppable Domains has teamed up with Cake Wallet, an open-source wallet, to introduce a new top-level domain specifically for Monero enthusiasts, the companies announced.
Unstoppable Domains revealed that the new .xmr domains enable Cake Wallet and Monero users to send and receive tokens using readable names rather than complex alphanumeric addresses.
This update aims to encourage broader Monero adoption by making it easier for users.
With this collaboration, Cake Wallet will now support .xmr usernames, allowing users to create personalized digital identities for their blockchain transactions.
This means users can use .xmr addresses instead of traditional, lengthy wallet addresses.
Enhancing Privacy for Monero Users
The announcement also highlighted that .xmr domains will allow users to manage assets across multiple networks, including Ethereum Virtual Machine (EVM) and non-EVM chains.
Unstoppable Domains’ COO Sandy Carter emphasized that the partnership aims to simplify onboarding and provide Monero users with the privacy and security they expect, along with greater control over their digital identities. Carter stated:
“It’s about providing Monero users with the privacy and security they expect while giving them greater control over their digital identities.”
She added that the .xmr domains will help users keep transactions private and reduce errors, saying, “By bringing .xmr domains to Cake Wallet, we’re enhancing privacy, usability, and control, specifically tailored for the Monero community.”
Regulatory Challenges for Monero
Monero (XMR), valued at around $164 with a market cap exceeding $3 billion, is known for its privacy-focused design but faces regulatory scrutiny.
For example, crypto exchange Kraken ended support for Monero in the European Economic Area on Oct. 2 due to regulatory requirements.
Regulatory measures against privacy tokens are increasing worldwide. In the European Union, providers cannot offer accounts for anonymous users or support privacy coins like Monero.
Japan banned anonymous tokens in 2018, South Korea restricted privacy coins on trading platforms in 2020, and Dubai prohibited the issuance and use of anonymity-focused tokens in 2023.
