This new service will enable users to mint “.BinanceUS” domains.
These distinct identifiers may be used with any Web3-compatible service.
Through a new collaboration with Unstoppable Domains, Binance U.S users will soon be able to create decentralized domains that will function as digital identities throughout the Web3 ecosystem.
This new service will enable users to mint “.BinanceUS” domains. Which will provide them with memorable addresses for their crypto wallets in the Binance.US app. Also, these distinct identifiers may be used with any Web3-compatible service, app, or platform.
Decentralized Domain Name
Moreover, the service, which was launched on April 26 by Binance U.S and Unstoppable Domains, will go online in May. On the Polygon blockchain, Binance U.S domains may be created without paying any gas fees or annual renewal fees.
This agreement will also make it possible for Binance.US customers to withdraw cryptocurrency to .crypto, .nft, and .x Unstoppable Domains addresses.
Furthermore, Binance Vice President of US Business Development Nandini Maheshwari cited the supply of digital identity ownership as a primary component in the relationship with Unstoppable and Polygon. A number of Web3, blockchain, and cryptocurrency firms have joined forces with the decentralized domain name provider during the last year.
To facilitate the creation of new “.polygon” Web3 domains, Polygon and others have formed cooperation. Unstoppable also allowed users of the 1inch Network’s decentralized finance (DeFi). Facilitating the transfer of crypto to addresses on the Web3 domain in the month of November.
As interest in Web3 services increases. The use of Unstoppable Domains and Ethereum Name Service (ENS) is expected to rise steadily through 2023.
In September 2022, Coinbase provided free usernames to its customers in lieu of traditional alphanumeric crypto wallet addresses thanks to its partnership with a decentralized domain name provider.