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Users of Binance.US will soon have the opportunity to create decentralized domains that will act as digital identities within the Web3 ecosystem, thanks to a new collaboration with Unstoppable Domains.
This new feature will enable users to mint “.BinanceUS” domains, offering easily recognizable names for cryptocurrency wallets to facilitate the buying, selling, and transferring of cryptocurrency within the Binance.US application. These distinct domains also function as a digital identity across compatible Web3 services, applications, and platforms.
Binance.US and Unstoppable Domains announced the introduction of this service on April 26, with a launch scheduled for May. The Binance.US domains will be minted on the Polygon blockchain, which enables the creation of decentralized domains without incurring gas fees or renewal charges.
This partnership will also permit Unstoppable Domains users to utilize Binance.US for withdrawing cryptocurrencies to various Unstoppable Domains addresses, including .crypto, .nft, and .x domains.
A statement from Nandini Maheshwari, Vice President of Business Development at Binance.US, shared with Cointelegraph, emphasized the importance of digital identity ownership as a significant aspect of the collaboration with Unstoppable and Polygon:
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“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 manage all .BinanceUS domains, which can exclusively be created through the Binance.US application.
Related: Web3 Domain Alliance expands with 51 new members
The decentralized domain service provider has formed partnerships with various Web3, blockchain, and cryptocurrency firms over the past year. This includes a collaboration with Polygon to enable the minting of “.polygon” Web3 domains. Unstoppable also created a pathway for 1inch Network decentralized finance (DeFi) users to send cryptocurrencies to Web3 domain addresses in November.
Unstoppable Domains and Ethereum Name Service (ENS) have experienced significant growth in user numbers throughout 2022 and 2023, driven by the increasing demand for Web3 services. The American cryptocurrency exchange Coinbase selected Unstoppable as its decentralized domain name partner in September 2022, offering users free.cb.id usernames such as ‘cointelegraph.cb.id’ to replace alphanumeric cryptocurrency wallet addresses.
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