Unocoin, the largest cryptocurrency exchange of India will be using Unstoppable Domains, a blockchain domain names building company for creating and hosting URLs based on blockchain. Integrating .crypto domains will reduce remittance fees across India. Unocoin Partners With Unstoppable Domains Tim Draper is the Silicon Valley investor behind the funding of both the companies, Unocoin and Unstoppable Domains. As announced on Wednesday, the purpose of this partnership is to simplify the process of the transaction and reduce the remittance costs. Unstoppable Domains turns the 42-character blockchain address into decentralized websites on the Zilliqa and Ethereum blockchains and creates simple URLs ending with “.zil” and “.crypto” extensions. However, the domain names are needed to be bought only once, and they then exist forever on the blockchain without even requiring renewal or any maintenance charges. The Indian crypto users will be interested in the decentralized aspect of the blockchain domain names building company. Moreover, the partnership will seek to remove the friction along with the boost in the remittance market and improve the experience of Indian crypto users. Sathvik Vishwanath, the CEO, and Co-Founder at Unocoin commented, “The cryptocurrency space is maturing,” In addition to that, he stated: “In line with the growth of the industry, Unocoin aims to offer its users the best possible experience. Integrating the .crypto domain is a significant step not only for Unocoin users but also for additional exchanges in the country exploring simpler and more user-friendly options for their users.” Seamless Sending and Receiving of Cryptocurrency Brad Kam, the Co-Founder of Unstoppable Domains said: “At its core, cryptocurrency is meant to allow for the cheap and efficient transfer of financial assets.” Continuing his statement, he added: “India’s population has been historically scorned from cryptocurrency. Unstoppable Domains is excited to deliver the seamless sending and receiving of cryptocurrency to Unocoin’s users. Our aim is to simplify cryptocurrency addresses, and establish human-readable names as the domain standard across wallets and exchanges.” With the support of the .crypto domain, the users will have the ability to execute cross-border transactions at a comparatively lower cost.
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