Binance announced the purchase of Trust Wallet’s crypto wallets service, which allows its customers to store more than 20,000 coins based on the Ethereum
One of the largest crypto-currency exchanges in the world, Binance announced the acquisition of Trust Wallet’s crypto wallets service, which allows its customers to store more than 20,000 coins based on Etherium.
The head of Binance, Changpeng Zhao, said that he-chang Trust Wallet wallets, which store private keys of users on their devices, will be an excellent addition to the centralized Binance ecosystem. He believes that such wallets are one of the most important steps on the way to mass adoption of digital currencies around the world.
Also, representatives of Binance noted that the introduction of the service does not mean that the previous development team will stop working on it. On the contrary – now they have even more opportunities to prove themselves in business against the backdrop of other companies bought by the crypto exchange.
For Binance customers, it remains to be expected that this acquisition will affect the work of the trading platform in the best way. Moreover, providing 9,000,000 users with the means to safely store their assets a priori cannot be a bad idea.
The cost of the deal was not disclosed, but on the assurances of the head of the exchange, the amount was small. The main reason for this was a narrow customer base.
Recall that earlier, Changpeng Zhao reported on several companies with whom negotiations are currently underway, so Trust Wallet may not be the last purchase this year.