Binance is one of the most prominent companies in the world of cryptocurrency and blockchain. This firm is expanding its presence at an accelerated pace and in a recent turn of events, the company has acquired Trust Wallet, an Ethereum dApp browser and wallet solution.
Another Step Forward for Binance
For cryptocurrency and blockchain companies, expansion is a normal order of business. Binance is certainly taking this concept to a whole new level, although the company is doing so through various methods. After making its way into Malta and Uganda, the company is now effectively targeting a new ecosystem to make a big impact upon.
By officially acquiring Trust Wallet, the company further strengthens its position within the cryptocurrency industry. Trust Wallet is designed for Ethereum users looking for a wallet and dApp browsing solution. The application is available on both Android, iOS and supports all ERC token standards, including ERC223 and ERC721.
More on the Case
It is the first time Binance has officially acquired another company. Binance CEO Changpeng Zhao has made it clear that his firm is looking for ways to further expand its position in the cryptocurrency and blockchain world. Buying up different companies is one way of achieving that goal, and Trust Wallet is a good place to start in this regard.
It appears that this acquisition will not affect the functionality of Trust Wallet in any significant manner. Users will still receive the same functionality that they have grown accustomed to using. Because of Binance’s capital injection, Trust Wallet will see an increase in the number of developers adding new features to the platform. Other blockchains will also be supported in the future, including Bitcoin, NEO, and EOS.
Rather than creating new projects and companies, Binance seeks to invest in firms which offer a lot of value already to the cryptocurrency and blockchain community. That is a positive sign and it also highlights the potential of Trust Wallet among Ethereum users.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.