Binance’s New Initiative On Polygon Aims to Woo US Customers Amid Regulatory Scrutiny

Binance news

Binance News: The U.S. arm of the world’s largest crypto exchange, Binance.US, has recently announced its partnership with Web3’s noted domain name registrar Unstoppable Domains to provide branded “.BinanceUS” addresses for U.S. customers. With this, users can now choose their preferred digital identities to easily send and receive cryptocurrencies instead of using conventional alpha-numeric wallet addresses.

Binance.US Offers Branded Web3 Domains

With the new service, customers will be able to create “.BinanceUS” domains, giving them unique identities for their cryptocurrency wallets that are simple to comprehend and can be used in the Binance.US app to buy, sell, and transfer digital assets.

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According to the official statement, the .BinanceUS domain names will soon be made available entirely through the exchange’s app; and it’s for the first time, Unstoppable will provide customers with two-digit domain names like “00.BinanceUS” or “99.BinanceUS”. Additionally, it already provides two-letter domains such as “ok.BinanceUS”.

BinanceUS Addresses To Start From $10

Furthermore, under the new partnership, customers of Unstoppable Domains will be able to withdraw cryptocurrency to a variety of domain addresses, including “.crypto,” “.nft,” and “.x” domains, using Binance US. According to official statements released, users will be able to purchase “.BinanceUS” domain names for as little as $10.

While, unlike its rival ENS which mints all its domain names on the Ethereum blockchain, the BinanceUS domain names will be created on the Polygon network. Considering there is a cost associated with using gas on Ethereum, ENS names can turn out to be expensive. However, as per Unstoppable Domain’s website, their domain addresses do not have any gas fees associated with it.

In light of this Binance news, the exchange’s native cryptocurrency BNB, witnessed a gain of roughly 0.11% in the past one hour. As things currently stand, the price of BNB is exchanging hands at $338.16 and boasts a market cap of roughly $51 billion.

Also Read: Circle Unveils New Protocol To Disrupt Stablecoin Market, USDC Set To Overtake USDT?

The post Binance’s New Initiative On Polygon Aims to Woo US Customers Amid Regulatory Scrutiny appeared first on CoinGape.

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Pratik Bhuyan