Cryptocurrency exchange platform Binance.US has partnered with Unstoppable Domains to offer its users the ability to create decentralised domains that serve as digital identities across the Web3 ecosystem.
The new partnership will allow users to mint ‘.BinanceUS’ domains, giving them easy-to-understand names for their cryptocurrency wallets in the Binance.US app. These unique domains can also be used as digital identities across compatible Web3 services, applications, and platforms.
Launching this month, the domains will be minted on the Polygon blockchain, which allows users to generate their decentralised domains without gas fees or renewal costs. Users will also be able to withdraw cryptocurrencies to various Unstoppable Domains addresses, including .crypto, .nft, and .x domains, using Binance.US.
Digital ownership in Web3
Nandini Maheshwari, Binance.US’ business development vice president, emphasised the importance of digital identity ownership in the partnership with Unstoppable and Polygon telling Cointelegraph, “Increasing accessibility to Web3 while maintaining a safe and secure ecosystem for customers is at the core of Binance.US’s mission.”
Unstoppable Domains will also be used to custody all .BinanceUS domains, which can only be created through the Binance.US app.
The company has previously partnered with various Web3, blockchain, and cryptocurrency companies, including Polygon, to provide the ability to mint ‘polygon’ Web3 domains. Unstoppable has also given 1inch Network decentralised finance (DeFi) users the ability to send cryptocurrencies to Web3 domain addresses come November this year.
As demand for Web3 services continues to grow, Unstoppable Domains and Ethereum Name Service (ENS) have seen an increase in user numbers throughout 2022 and 2023.
In September 2022, American cryptocurrency exchange Coinbase partnered with ENS to provide users with free.cb.id usernames, such as ‘cointelegraph.cb.id,’ a move intended to replace alpha-numeric crypto wallet addresses.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
