MetaMask and Binance are leveraging newly launched cross-chain payment zero-knowledge proof-driven solutions to simplify cryptographic transfers from decentralized exchanges to centralized exchanges.
Crypto Exchange Binance and non-curative wallet metamask, owned by Consensys, utilize Payment ID, a Zkemail solution launched by the Digital ID Platform Space ID.
The MetaMask is already connected to the solution, but integration with Binance will soon be underway, Space ID said in a press release.
Payment ID integration allows users to transfer assets between the CEX platform and Web3 applications, which are enabled for addresses, chains, or wallets. Space ID claims that the solution makes Cross-Chain Crypto forwarding as easy as using Revolut or Venmo.
“Sending Crypto is not as difficult as a traditional financial railway. This is not difficult. With payment ID, I found a solution to this problem. This is simple: one ID for all addresses, chains, wallets. It’s as simple as Revolut or Venmo.
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Payment IDs provide simple, human-readable payment IDs, allowing for transfers to crypto exchanges such as Binance.
You can create an ID using your Gmail or Yahoo account. By mapping these and depositing addresses, users can avoid millions of dollars in losses due to copy pasting errors, phishing scams, and deposits in the wrong chain.
“We’re committed to providing a range of services to our network,” said Christian Montoya, Metamask’s network extension product lead.
“Web3 is about making payments easier, but complex blockchain addresses get in the way. Space ID’s new payment ID approach sends money as easily as sending emails. This is the perfect example of the kind of innovation possible with MetaMask snaps.
Like future Binance integrations, Space IDs look to other top CEXS and Web3 wallets.
The platform’s identity solutions across the ecosystem include over 6.7 million registered domains and over 2.7 million owners. Among other chains, it supports Ethereum, BNB chains, Arbitrum, and Story Protocol.
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