Binance. Through a new partnership with Unstoppable Domains, US users will soon be able to set up decentralized domains that will serve as digital identities across the Web3 ecosystem.
The new product will allow users to create ".BinanceUS" domains, providing users with easy-to-understand names for cryptocurrency wallets to buy, sell and transfer cryptocurrencies within the Binance.US application. These unique domains also act as digital identities ac ross compatible Web3 services, applications and platforms. Binance.US and Unstoppable Domains announced the service on April 26 and will go live in May. Binance.US domains are created on the Polygon blockchain, which allows for the generation of decentralized domains without gas fees or renewal costs.
The partnership will also allow Unstoppable Domains users to use Binance.US to withdraw cryptocurrencies to various Unstoppable Domains addresses, including .crypto, .nft, and .x domains. In a statement shared with Cointelegraph, Binance.US vice president of business development Nandini Maheshwari emphasized that providing digital identity ownership was a key element of the partnership with Unstoppable and Polygon: "Increasing Web3 accessibility while maintaining a safe and secure ecosystem for customers is at the core of Binance.US' mission."
Unstoppable Domains will be responsible for hosting all .BinanceUS domains, which can only be created through the Binance.US app. The decentralized DNS provider has partnered with several Web3, blockchain and cryptocurrency companies over the past year. This includes a partnership with Polygon to provide the ability to create ".polygon" Web3 domains. Unstoppable also provided a way for 1inch Network decentralized finance (DeFi) users to send cryptocurrency to Web3 domain addresses in November.
Unstoppable Domains and Ethereum Name Service (ENS) will see growing user numbers in 2022 and 2023 as demand for Web3 services continues to grow. US cryptocurrency exchange Coinbase became 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.
