The Partnership between Circle and Unstoppable Domains will give ease to the USDC coin users. Because “.coin” domain name will provide simplicity to read the users names.
Circle is a popular firm which is known for their USD coin ( USDC). This company currently has a market cap of more than $25 billion in the crypto Market as a stable coin which is much similar to the USDT coin.
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Unstoppable domain is a NFT based service. This service of Unstoppable domain is to provide blockchain based domain names for internet users. For example xyz.coin, xyz, blockchain, xyz.bitcoin etc. And they already distributed more than 1 million blockchain domain names. And as we know Unstoppable is based on the NFT token concept, so they minted the domain names on Ethereum blockchain network, so that a owner can access full 100% control on his purchased domain name, similar to the artwork.
Global financial technology firm Circle is partnering with Unstoppable Domains will provide simplicity to use USDC coins with readable names. As we know USDC is a stablecoin, which means it’s backed by a fixed asset as in case of NFTs Token system, that will provide more stability for the crypto assets which will be backed by USDC i.e 1:1 type.
We can understand the example of Paypal & Venmo, where both of them established partnerships and allowed their users to facilitate transactions easily with more simplicity.
So from now, users will be able to use modern addresses which will be readable & accessible instead of random alphanumeric lengthy keyword based addresses.
Matthew Gould, founder and CEO of Unstoppable Domains stated
“easily readable .coin” usernames so that it’s easier to transfer USDC across over 30 applications, wallets and exchanges to accelerate decentralized peer-to-peer transactions. We aim to make blockchain domain names the standard for digital currency transfers across all wallets and exchanges”
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