Binance users in the United States can now create Web3 domains to use as digital identities in a new partnership with Unstoppable Domains.
Binance. Through a new partnership with Unstoppable Domains, U.S. 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" domain names, providing users with easy-to-understand cryptocurrency wallet names to buy, sell and transfer cryptocurrencies on the Binance.US application. These unique domains also serve as digital identities across compatible Web3 services, applications and platforms.
Binance.US and Unstoppable Domains announced the launch of 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 withdraw cryptocurrency to various Unstoppable Domains addresses, which include .crypto, .nft, and .x domains, using Binance.US.
In a statement shared with Cointelegraph, Nandini Maheshwari, vice president of business development at Binance.US, stressed that providing digital identity ownership was a key factor in the partnership with Unstoppable and Polygon:
“Increasing the accessibility of Web3 while maintaining a safe and secure ecosystem for customers is core to Binance.US’ mission.”
Unstoppable Domains will be responsible for hosting all .BinanceUS domains, which can only be created through the Binance.US application.
The decentralized domain name service 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 1inch Network decentralized finance (DeFi) users with a way to send cryptocurrency to Web3 domain addresses in November.
As demand for Web3 services continues to grow, the number of users of Unstoppable Domains and Ethereum Name Service (ENS) has continued to grow in 2022 and 2023. US cryptocurrency exchange Coinbase became its decentralized domain partner in September 2022, providing users with free.cb.id usernames such as "cointelegraph.cb.id" to replace alphanumeric cryptocurrency wallet addresses.
Update: The article’s title has been updated to reflect that it’s not possible to create a Web3 domain for free.
