As previously reported, Binance acquired Trust Wallet — an open source, decentralized wallet that initially offered native support for ethereum (ETH) and ETH-based tokens — in summer 2018. At the time, Binance had revealed its plans to list the wallet as the default wallet on its forthcoming decentralized exchange (DEX) — then still under development.
Binance, the world’s second largest crypto exchange by adjusted volume, has released its official Trust Wallet on its decentralized trading platform Binance DEX. The news was revealed in a press release shared with Cointelegraph on June 4.
Since then, the exchange has also rolled out support for multiple cryptocurrencies on Trust Wallet — with plans to support tokens based on protocols using proof-of-stake (PoS) consensus algorithms in future.
According to today’s press release, the integrated Trust Wallet will help support Binance DEX users wishing to maintain custody and full control over their funds, while benefiting from fast trading services.
Aside from serving as a wallet, Trust Wallet also provides users with access to decentralized applications (DApps) that can be accessed via the wallet’s mobile or desktop version, the press release notes.
Desktop support is offered via the WalletConnect open protocol, which connects DApps to mobile wallets using end-to-end encryption and was integrated with Trust Wallet and Binance DEX this May.
According to the press release, Trust Wallet plans to launch support for layer-2 payment protocols such as Lightning Network in future, as well as support for staking services. According to a Binance announcement this April, the staking feature is scheduled to be rolled out by the end of Q2 2019.
As reported this weekend, the Binance DEX website has recently announced it will implement geo-blocking to prevent website access to users from 29 different countries as of July 1, 2019 — including the United States, Belarus, Cuba, Iran, Syria and Venezuela. Users will reportedly nonetheless still be able to avail themselves of wallets that support native blockchain Binance Chain.
Yesterday, Cointelegraph reported that Binance is ostensibly testing a British pound stablecoin on Binance Chain. Binance CEO Changpeng Zhao has commented on the rumor, confirming that a pound stablecoin is in the testing phase, with only £200 minted.