The acquisition will enable the crypto exchange to add a mobile wallet to its services, while Trust Wallet will be able to tap into Binance’s existing user base and a proposed decentralized exchange, according to a press release.
Although Trust Wallet has been acquired, its team will continue operating autonomously, the founders said. Compatible with Ethereum-based tokens, the platform is open-source, decentralized and anonymous, and it is capable of storing more than 20,000 crypto assets.
Part of the decision to acquire Trust Wallet comes from the fact that the platform does not request user data or other private information. As a result, the platform “has built a strong reputation for security”, the release claims.
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