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OKCoin Becomes First Major Exchange to Support Blockchain Domain NamesUnstoppable Domains, a company building blockchain domain names, today announced that OKCoin, the global, regulated fiat-focused crypto asset exchange, will add support for blockchain domain names effective immediately. Through the OKCoin integration of the .crypto blockchain domain, built by Unstoppable Domains, OKCoin will become the first cryptocurrency exchange to introduce blockchain domain names to users to simplify deposits and withdrawals within the exchange. According to blockchain and cryptocurrency market analysis firm, IntoTheBlock, Bitcoin added 5 million wallets and Ethereum added nearly 18 million wallets in the past year, indicative of the increase in cryptocurrency adoption and usage. Although the market capitalization of cryptocurrencies topped $1 trillion in 2021, users still rely on antiquated methods of cryptocurrency payments, and navigate using the equivalent of IP addresses. As the market grows, it is paramount that usability and user experience improve in lockstep to seamlessly onboard users from fiat to crypto and across the decentralized web. "As the bull run continues, it is critical we are working to remove friction for the next new wave of crypto enthusiasts," said Brad Kam, co-founder of Unstoppable Domains. "The Unstoppable 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." OKCoin's integration of .cryto domains will allow OKCoin users, which span 184 countries, to tie their deposit addresses to their domain to make it easy to send 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." Brad 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." This news followed Unstoppable Domains' recent announcement of its integration with Litewallet and the unveiling of the Unstoppable Domains App Catalog. To date, Unstoppable Domains has registered nearly 500,000 blockchain domain names. To register for a .crypto domain or browse the App Catalog, visit www.unstoppabledomains.com. About OKCoin: Established in 2013, OKCoin is a global, U.S regulated cryptocurrency exchange that enables customers to easily transition between crypto and fiat currency with industry-low fees. OKCoin provides a reliable, secure and frictionless trading experience, supporting customers across 184 countries to trade and earn on crypto assets including Bitcoin, Ethereum, and DeFi tokens with the US dollar, euro, and Singapore dollar. OKCoin is a registered money services business (MSB) with the Financial Crime Enforcement Network (FinCEN). Headquartered in San Francisco, California, OKCoin has offices in Hong Kong, Singapore, Malta and Japan. About Unstoppable Domains: Unstoppable Domains is a San Francisco-based company building domains on blockchains. The company is backed by Draper Associates and Boost VC and has received grants from the Ethereum Foundation and the Zilliqa Foundation. For more information visit www.unstoppabledomains.com. Follow us on Twitter, and join the conversation on Telegram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005333/en/ |
