Unstoppable Domains, a company building blockchain domain names, announced that OKCoin, the global, regulated fiat-focused crypto asset exchange, will immediately add support for blockchain domain names.
OKCoin would become the first cryptocurrency exchange to offer blockchain domain names to users through the OKCoin incorporation of the .crypto blockchain domain, created by Unstoppable Domains, to simplify deposits and withdrawals inside the exchange.
IntoTheBlock, a blockchain and cryptocurrency market analysis firm, stated – Bitcoin and Ethereum added 5 million wallets and nearly 18 million wallets, respectively, depicting a subsidized increase in cryptocurrency adoption and usage last year.
While the cryptocurrency market capitalization reached USD 1 trillion in 2021, users still rely on old-fashioned cryptocurrency payment methods and navigate using IP address equivalents. As the market expands, it is important to enhance accessibility and user experience in lockstep to seamlessly onboard users across the decentralized network and from fiat to crypto.
“As the bull run continues, it is critical we are working to remove friction for the next new wave of crypto enthusiasts,” said Bradley Kam, Co-founder of Unstoppable Domains. “The Unstocoinppable Domains integration with OKCoin will be a linchpin for exchanges to leverage human-readable names as the domain standard to simplify the onboarding process for new users. We aim to deliver the most seamless and frictionless payment experience for users, akin to a decentralized Venmo.”
Spread across 184 countries, OKCoin users reap the benefits of OKCoin’s integration with .crypto domains to connect their deposit addresses to their domain, making it convenient to send and wire money into the exchange and across exchanges.
“OKCoin is committed to identifying and implementing strategies to provide the best experience to our customers and Unstoppable Domains greatly increases the ease to send crypto, which can be difficult for new users,” said Haider Rafique, CMO at OKCoin. “This is especially important when onboarding new customers where depositing and withdrawing can be daunting at first. It is critical we provide the necessary tools for users to succeed on our platform, and we believe that this partnership with Unstoppable Domains is a step in removing friction in trading and using crypto.”
Bradley Kam continued, “At present, the large majority of crypto is held on exchanges. Despite the maturation of the space, a key problem that persists is transferring money across exchanges. It is imperative interoperability, usability, and user experience are at the forefront of the crypto ecosystem as the space forges ahead.”