RATE Group | Binance Acquires Cryptocurrency Wallet Provider, Vows to Make More Deals
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Binance Acquires Cryptocurrency Wallet Provider, Vows to Make More Deals

01 Aug Binance Acquires Cryptocurrency Wallet Provider, Vows to Make More Deals

Posted at 03:15h in Cryptocurrency News by

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Mergers and acquisitions (M&A) are a common theme within the capital markets industry and as the cryptocurrency ecosystem matures, M&A announcements are expected to follow the same trend.

The news today is that Binance, one of the world’s largest virtual currency operators, has acquired cryptocurrency wallet provider Trust Wallet in an effort to give control back to its customers.

Binance Acquires Cryptocurrency Wallet Provider Trust Wallet

Binance has entered the M&A space for the first time, choosing to buy the cryptocurrency wallet provider and decentralized-application browser.

Trust Wallet was launched in November 2017 and enjoys a reputation for security by never requesting user data or private information, as Binance CEO, Zhao Changpeng told Bloomberg.

“The users control 100 percent of their funds. Now we have both a decentralized and centralized solution for custody.”

With this deal, Binance will add an on-chain mobile wallet to the list of the operator’s services…

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