The US-based cryptocurrency exchange Gemini, which is owned by Winklevoss brothers, is now offering its custody service to “.Crypto” blockchain domain which belongs to the top blockchain domain firm Unstoppable Domains. The Gemini Custody service will begin from July 23, 2020, onward. Users will now leverage Gemini Custody for storing their .crypto domain addresses received via Unstoppable Domains.
Registrars can protect their assets with Gemini’s custodial service
Announcing the news on Thursday, the Unstoppable firm said that those domain registrars who will buy “.Crypto” addresses for customers will have to leverage the custodial service of the Gemini cryptocurrency exchange.
The Co-Founder at Unstoppable Domains Brad Kam said that traditional domain companies’ registrars who do not store their domains on their own can rely on the Gemini custody and they can protect their owned blockchain assets by utilizing the custodial service of the Gemini exchange. Brad Kam further claimed that among domain registrars EnCirca and 101domain are the first ones to resell this product.
Among cryptocurrency exchanges, the Gemini cryptocurrency exchange is the first one to offer NFTs (non-fungible tokens) with this storage service according to the executive.
.Crypto domain gains attention
Based on the Ethereum blockchain, the .crypto domain was initially introduced last year in Oct 2019 by the Unstoppable Domains firm. With this domain registry, users usually connect a particular cryptocurrency address with the domain they own. The well-known Opera Browser integrated with the Unstoppable’s .crypto web domain last time. Now, various cryptocurrency exchanges have also started thinking about using the .crypto blockchain domain. This means that the .crypto domain is getting wider attention in the industry.
The firm “Unstoppable Domains” is backed by Tim Draper a top blockchain investor. The firm has many popular domains such as myetherwallet.crypto, Switcheo.crypto, meltemdemirors.crypto, and Kyber.crypto. These domains are among the most famous ones. Till now, the blockchain domain company has more than 200,000 domains registered on its platform and is looking forward to adding more to its platform in the future.