Circle, the global financial technology firm and principal developer of the USD Coin ($USDC), has partnered with Unstoppable Domains, a blockchain domain name provider. The partnership is aimed at introducing simplified usernames for stablecoin payments.
The USD Coin is a digital dollar-pegged stablecoin with a market capitalization of over $27.4 billion, according to current data from CoinMarketCap. The USDC stablecoin has become a staple of the crypto world ever since its market launch in 2018. With this widened reach, the partnership with Unstoppable Domains will leverage Circle’s $USDC to promote the domain provider’s mission to scale the adoption of human-readable addresses to avoid the complexities of alphanumeric crypto wallet addresses.
“We aim to make blockchain domain names the standard for digital currency transfers across all wallets and exchanges. Simple usernames combined with dollar-pegged stablecoins take the fear and risk out of spending crypto.” shared Matthew Gould, founder and CEO of Unstoppable Domains.
Unstoppable Domains has provided over a million blockchain domain names minted as non-fungible tokens on the Ethereum blockchain, giving users full ownership and control over names they choose. However, users are prevented from using or co-opting recognized brands such as names that are already trademarked by existing companies. Unstoppable Domains works with established companies to provide them copyright provenance over handles that form part of their intellectual property.
“USDC has grown dramatically in the last year, fueling commerce and payments activity across the internet. With Unstoppable Domains' .coin usernames, sending USDC becomes just as easy as sending an email. We believe this is a major step forward in making USDC payments accessible for all.” said Josh Hawkins, Senior Vice President of Marketing at Circle.
Unstoppable Domains currently supports over 200 cryptocurrencies and over 50 wallets and exchanges.Unstoppable Domains also offers other crypto-related domain names such as .crypto, .nft, .blockchain, and .bitcoin, among others, with more still in development. With the partnership, Unstoppable Domains will be offering “.coin” usernames available for USDC transfers.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.