Binance and the Trusted Wallet

Marcin Iwański
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According to the announcement, Binance has purchased a mobile cryptocurrency wallet – Trust Wallet.

From now on, users have not only decentralized solutions but also fully centralized. As Binance CEO Zhao Changpeng said, “The users control 100 percent of their funds, now we have both a decentralized and centralized solution for custody.”

Binance is one of the largest cryptocurrency exchanges in the world. According to their announcement, the exchange platform has purchased a mobile cryptocurrency wallet that supports the Ethereum and ERC-20 tokens and ERC-223 tokens.

The exchange team has stated that the acquisition of the Trust Wallet is intended to improve the Binance platform’s “centralized architecture” and enhance the security of its customers’ funds.

The agreement was not disclosed, but the board of the exchange confirmed that the purchase was made with FIATs, Binance reserves, and some BNB tokens.

As we can find in the announcement:

“The company has built a reputation for security and has held itself to the guiding principles that it will never access user wallets, hold private keys, and ask for personal information.”

Binance always aimed to be secure for their users; now they have their cryptocurrency mobile wallet.

Binance recently moved to Malta and is one of the largest crypto exchange in the world regarding daily volume. Those are not the only changes that CEO plans for Binance, as he said “[Binance] is in early-stage talks with a few other acquisition targets,”

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