Binance, the world’s largest crypto platform, has just made its first acquisition, buying out a Calfornia-based cryptocurrency exchange wallet startup after it snapped up mobile wallet company Trust Wallet.
Trust Wallet offers a consistent security solution for users, along with enabling a so-called decentralized application browser. Unlike other mobile-based wallets, Trust allows users to control 100 percent of their funds. In fact, users can now store every info on the company-owned servers with the help of user’s public addresses, contact information, and social media details.
According to Binance CEO, Changpeng, the Trust Wallet team shares the same values like the company and the products are very balancing, for users who wish to withdraw funds into a wallet can use a new product made by the company.
He further added that Trust Wallet might not be as recognized as wallets such as Imtoken, Delta, or Blockfolio but it is definitely going to be useful for the users. Also, its app is completely liberated. There will be loads of features going into it but not so much from a Binance demand perception.
About Trust Wallet
Trust Wallet will soon be one of the best default wallets maintained by Binance’s forthcoming decentralized exchange, which will eliminate the fetters of a decentralized exchange and allow users to trade directly with one another. This Trust Wallet deal is likely the first of many planned acquisitions for Binance. The company has also announced its plans for a $2 billion fund this summer.
The acquirement of Trust Wallet will improve on-chain mobile wallet to the list of Binance services with other future incorporation potentials.
As a technology-driven company, Binance’s acquisition of Trust Wallet shows the significance of safe wallet technology for the future development of cryptocurrency as a full. It will give its users an improved security, services and support a spokesperson said to Digital Journal.
The post Binance Buys Trusted Wallet In Its First Public Acquisition Deal appeared first on OWLT Market.
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