Binance Introduces New Self-Custody Wallet
Binance, the world’s largest crypto exchange, has launched a new self-custody wallet that provides one-click access to the blockchain from the platform’s mobile app. This new wallet acts as a bridge between the exchange and decentralized finance (DeFi) ecosystems, giving users control over their assets, the ability to trade tokens across different networks, earn yields, and access blockchain platforms.
The Binance Web3 Wallet currently supports 36 networks, including Ethereum (ETH), Polygon (MATIC), Arbitrum (ARB), Optimism (OP), and Avalanche (AVAX). Users can also access eight decentralized apps (dApps) such as PancakeSwap V3, Venus, ApolloX Finance, Uniswap V3, Balancer V2, Lido, Beefy, and OpenSea Seaport.
According to Binance CEO Changpeng Zhao, “Binance is now your one app for all things web3. Our new Web3 Wallet lets you connect DeFi to CeFi (centralized finance) in one click.”
The exchange is rolling out the wallet to make the decentralized internet accessible to users and onboard more people into web3. The goal is to simplify the potentially complex terrain of web3 and bring the next billion people to this space.
Hot Take
Binance’s new self-custody wallet aims to bridge the gap between centralized and decentralized finance by providing easy access to the blockchain from its mobile app. With support for various networks and dApps, this wallet offers users greater control over their assets and seamless integration with the DeFi ecosystem.
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