Binance Acquires Trust Wallet

Binance Acquires Trust Wallet

Binance, one of the world’s largest cryptocurrency exchanges on 31 July, announced that it had acquired Trust Waller bringing its customer-base a much larger amount of control over their digital assets. Trust Wallet is an Ethereum-based mobile wallet for ERC223, Ethereum and ERC20  tokens.

As per Changpeng Zhao, the CEO and the Founder of Binance, Trust Wallet is not as huge as several other wallets like Blockfolio or Delta but is a ‘diamond in the dirt’. He also mentioned in an interview that the wallet will not go through many changes but a few upgrades that will bring new features to the wallet.

Launched in November last year, Trust Wallet is just a few months old in the market. Additionally, Binance also mentioned that Trust Wallet gives a crypto-wallet as well as a decentralized application browser which will not collect an intensive amount of data. Changpeng Zhao also said:

“Now we have both a decentralized and centralized solution for custody.”

Changpeng Zhao also mentioned in another statement that the two platforms Trust Wallet app and Binance are compatible with each other and will further complement each other with respect to the requirements of their customers. Furthermore, the same values are shared by the two platform.

Technical excellence is also one of the key features of the mobile wallet. Initially, Trust Wallet thought of raising funds through an ICO but surprisingly they gave all the money back to their investors almost a month back.

Viktor Radchenko, the CEO of Trust Wallet in an interview said that he is mainly someone who gives a solution to the problem and is more keen on increasing the production and the development of the wallet. He went on to add:

“I never liked dealing with investors and money people, it is so much hassle.”

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.