Coinbase Follows Huobi in Supporting .Crypto Domains-Based Payments
Coinbase Wallet now allows to register and store “.crypto” domains, featuring payments through domain handles instead of cryptographic addresses.
Coinbase Wallet, a service of the largest crypto exchange in the United States, now supports “.crypto” domains via an integration with blockchain domain provider Unstoppable Domains.
Coinbase users can now send payments to each other by simply typing a .crypto domain instead of using long-form cryptographic addresses, Unstoppable Domains told Cointelegraph on Aug. 5.
By introducing the new integration, Coinbase Wallet joins major crypto exchange Huobi, which announced a similar feature in late June.
Brad Kam, co-founder of Unstoppable Domains, says that Coinbase Wallet is the first platform to offer an “all in one solution” for all cryptocurrencies offered by the wallet. According to Unstoppable Domains, Coinbase wallet supports .crypto domains in Bitcoin (BTC), Ether (ETH) and any other currencies provided by the wallet.
Apart from Huobi and Coinbase Wallet, .crypto domains have also been supported by Trust Wallet, an official self-custody wallet owned by the world’s largest crypto exchange, Binance.
Coinbase will also custody .crypto domains
Alongside featuring Unstoppable Domains-powered domains, Coinbase wallet will also offer custody support for .crypto domains in the collectibles section of its application. The Winklevoss-founded Gemini exchange also rolled out custody for .crypto domains on July 23.
Coinbase users can also register and manage domains via the Coinbase decentralized application (DApp) browser. In order to send a transaction to a domain, Coinbase users need to pradd their wallets to Unstoppable Domains within the DApp browser, Kam explained.
Blockchain technology is being increasingly implemented by domain name providers. On July 21, major domain registry Verisign acquired a blockchain patent to transform traditional domains into blockchain user addresses to enable interactions with other participants on the network. After launching Ethereum-based .crypto domains in late 2019, Unstoppable Domains has registered more than 200,000 domains to date.
