Cash2VN, the Crypto Remittance Platform for Vietnam, has added Monero (XMR) as an additional choice for crypto users wanting to send remittances to Vietnam (recipients can receive VND either into their bank account or pick up cash at various locations).
Monero has seen a strong adoption among privacy-oriented users due its implementation of RingCT and Stealth addresses, which allow users to send funds to each other without any outside party being able to monitor how much XMR moved from an unknown sender address to an unknown recipient address.
“Monero uses three different privacy technologies: ring signatures, ring confidential transactions (RingCT), and stealth addresses. These hide the sender, amount, and receiver in the transaction, respectively. All transactions on the network are private by mandate; there is no way to accidentally send a transparent transaction. This feature is exclusive to Monero. You do not need to trust anyone else with your privacy.” (Source)
The trade-offs undertaken by Monero might not make it “Digital Gold” – but gives it certain advantages as probably the most private means of transaction as far as Cryptocurrencies are concerned.
“We believe that there is a good match between the privacy-oriented nature of the Monero user base – and our service which is aiming to put the least amount of necessary user data at risk, while still being able to provide a convenient service to send funds to Vietnam.”