Cantankerous-concatenation DeFi protocol Sienna Network has enabled Bitcoin (BTC) and Monero (XMR) trading pairs on its decentralized exchange, giving users the power to transact privately in ii of the world's most recognizable cryptocurrencies.

Constructive immediately, users of the privacy-focused SiennaSwap DEX volition have the ability to trade BTC and XMR against the protocol's native Sienna token, chief evangelist Monty Munford confirmed with Cointelegraph. The conclusion to incorporate Bitcoin and Monero transactions follows a "huge corporeality of requests for additional yield options" from both communities, he said.

Sienna's infrastructure is built on the Undercover Network, a custom blockchain that supports private transactions but, perhaps just equally critically, doesn't endorse trading techniques based on anonymity. Regulators take cast a dark shadow over cryptocurrencies that provide enhanced anonymity, with several exchanges moving to delist privacy-centric cryptocurrencies XMR, Zcash and Nuance earlier this yr.

As function of its mandate, Sienna Network is attempting to provide an environment where crypto transactions are kept private without the added stigma and regulatory implications of anonymity.

Since launching on Oct. 7, SiennaSwap has generated over $254 1000000 in cumulative trade volumes, further highlighting the growing popularity of decentralized exchanges.

Cryptocurrency entrepreneur and Bitcoin Greenbacks (BCH) proponent Roger Ver has come out in favor of SiennaSwap'due south contempo additions. "Maintaining privacy while enabling DeFi for Monero and Bitcoin is crucial and Sienna Network seems to be doing exactly that," he said. Ver has long been an advocate for crypto-oriented privacy tools and their function in promoting freedom.

Related: DeFi privacy project Panther raises $22M in ane.5-hour public sale

The crypto manufacture as a whole has been criticized for non making privacy a tier-one priority. Although the media'due south role in conflating privacy and anonymity (and thus, nefarious behavior) is partly to blame, builders of the new economy have as well favored other priorities, such equally security, decentralization and scalability. Whereas privacy-focused projects had a strong presence during the 2022–2018 crypto bull market, the 2022 market melt-upwards has been driven largely by DeFi, nonfungible tokens and more than recently, GameFi and Metaverse concepts.

Sienna Network reiterated that privacy of financial transactions is not only a personal right but also a legal obligation in Europe and the Usa.