Binance, the world’s most popular cryptocurrency exchange, announced today that it has acquired Trust Wallet, a mobile cryptocurrency wallet that supports Ethereum and over 20,000 different Ethereum based tokens, across the ERC-20, ERC-223 and ERC-721 standards.
— Binance (@binance) July 31, 2018
In the announcement, the Binance team emphasizes the quality of the Trust Wallet software, making it the ideal platform for their mobile expansion.
The company has built a reputation for security and has held itself to the guiding principles that it will never access user wallets, hold private keys, and ask for personal information.
This news comes a week after Binance Labs, the investment arm of the popular exchange, Binance, revealed that it has invested in Libra Credit (LBA), a decentralized digital asset financial services platform.
While the amount of the Trust Wallet acquisition is currently undisclosed, Binance notes that the team will retain its autonomy and freedom to develop the core product.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.