Binance exchange has made its move and acquired Trust Wallet. The terms of the deal are not yet disclosed, however, the exchange has confirmed that they will compensate a mixture of cash, Binance tokens (BNB), and Binance stock.
Binance Exchange and Trust Wallet
Binance, a Malta-based company, is the world’s leading cryptocurrency exchange in terms of volume. The firm already set up the move to expand their operations in majority sectors. The latest achievement was the acquisition of the Trust Wallet.
Trust Wallet is a decentralized wallet service provider, offering digital tokens together with decentralized applications. It is the creator of the eponymous mobile Ethereum wallet, which supports Ether, ERC-20, ERC-721, and ERC-223 tokens.
Binance is the centralized exchange which is currently the world’s second-largest cryptocurrency exchange with the 24 hr. volume of $1.3 billion. On the other hand, Trust Wallet is amongst the countless default wallets supported by the company’s upcoming decentralized exchange. This will surely eliminate the shackles of a decentralized exchange and also allow users to trade directly.
Both the firms, Binance Exchange as Trust Wallet are effectively collaborating to improve their business together. In most of its operations, Trust Wallet is said to remain autonomous, while Binance will co-operate with the administration and focus on marketing development.