Circle, the blockchain company behind one of the most popular stablecoins – USDC, plans to simplify user experience and USDC transfers in different apps and exchanges. To do so, the company has introduced usernames for wallets through a partnership with the domain name provider – Unstoppable Domains.
In a press release shared with CryptoPotato, Circle announced the partnership with the DLT-based domain name provider. Thus, the fintech firm will implement “simple and easily-readable” usernames for payments involving its own stablecoin – USD Coin.
They will replace the “lengthy alphanumeric wallet addresses,” which could confuse some users. As a result, customers will be able to easily transfer USDC across the growing number of applications, exchanges, and wallets utilizing the stablecoin.
Both parties admitted that they looked to other payment processors like PayPal and Venmo, where usernames have simplified transactions. Unstoppable Domains pledged to implement such usernames to more than 30 wallets and exchange partners of Circle to “accelerate decentralized peer-to-peer transactions.”
“USDC has grown dramatically in the last year, fueling commerce and payments activity across the Internet. With Unstoppable Domains’ .coin usernames, sending USDC becomes just as easy as sending an email. We believe this is a major step forward in making USDC payments accessible for all.” – commented Circle’s Senior Vice President of Marketing – Josh Hawkins.
Matthew Gould, Founder and CEO of Unstoppable Domains outlined the significant growth of stablecoin usage in the past few years. He added, “simple usernames combined with dollar-pegged stablecoins take the fear and risk out of spending crypto.”
Apart from the initiative described above, the blockchain company recently announced other significant developments. Circle partnered with the global financial services giant Mastercard to trial USDC settlements.
Before that, the firm highlighted plans to follow the example of Coinbase and become a publicly-traded company. It intends to do so through a merger with a Special Purpose Acquisition Company (SPAC) called Concord Acquisition Corp, and the total valuation is at $4.5 billion.