Binance Acquires Anonymous Mobile Wallet for Ethereum Tokens

Cryptocurrency exchange Binance has acquired mobile ethereum wallet Trust Wallet, the startups announced Tuesday.

The acquisition will enable Binance to add a mobile wallet to its services, while Trust Wallet will be able to tap into advantages offered by the exchange, including both its 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 is capable of storing more than 20,000 crypto assets.

“Wallets are the most fundamental interface to the crypto economy, and a secure and easy-to-use wallet is key to proliferate the adoption of cryptocurrencies,” Binance CEO Changpeng Zhao said in a statement.

He further told CoinDesk in an email:

“We want to keep Trust Wallet as an independent brand and product. It’s still the team’s baby. We are like a godfather. In fact, we plan to move more services to Trust Wallet, such as tight integration with our decentralized exchange Binance Chain..”

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