Binance, the world’s largest cryptocurrency exchange, is having a hard time under scrutiny and investigations in the US. However, Binance’s new venture on Polygon aims to win over US customers amid regulatory scrutiny.
Binance collaborates with Unstoppable Domains on Polygon
cryptocoin.com As we reported, Binance users in the US will now have the ability to create Web3 domains that function as digital IDs in collaboration with Unstoppable Domains on Polygon. In this context, Binance.US, the US arm of the world’s largest crypto exchange Binance, announced a partnership with Web3’s well-known domain registrar Unstoppable Domains to provide branded “.BinanceUS” addresses to US customers. This allows users to choose their preferred digital identities to easily send and receive cryptocurrencies, instead of using traditional alphanumeric wallet addresses.
Thanks to the new service, it is possible for customers to create “.BinanceUS” domain names. They will also be able to obtain unique IDs for crypto wallets that are easy to understand and can be used in the Binance.US app to buy, sell and transfer digital assets. According to the official announcement, .BinanceUS domains will soon be available entirely through the exchange’s app. Also, for the first time, Unstoppable will provide its customers with two-digit domain names such as “00.BinanceUS” or “99.BinanceUS”. Meanwhile, it already provides two-letter domains like “ok.BinanceUS”.
BinanceUS addresses will start at $10
Also, under the new partnership, Unstoppable Domains customers will be able to withdraw cryptocurrencies to various domain addresses, including “.crypto”, “.nft” and “.x” domains using Binance US. According to the official statement, users will have the opportunity to purchase “.BinanceUS” domain names for as little as $10.
Unlike its rival ENS, which prints all its domains on the Ethereum Blockchain, BinanceUS domains will be created on the Polygon network. ENS names can be expensive considering there is a cost associated with using gas in Ethereum. However, according to Unstoppable Domain’s website, domain addresses don’t have any gas fees associated with it.
According to experts, this Binance news is likely to have a positive impact on the exchange’s native token, BNB. Currently, BNB is changing hands at $328.16, down 1.95% on a daily basis. Also, the altcoin has a market cap of roughly $51 billion.
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