Trust Wallet is Binance’s multi-chain non-custodial wallet that aims to facilitate and unite the various platforms in order to make things easier for users in transfers and offer the widest spectrum of transactional cryptographic tools.
The non-custodial wallet enables the storage and management of more than 8 million cryptographic assets (tokens, NFTs, ETFs, etc.) in more than 70 blockchains.
Thanks to the latest update, the storage of resources and assets held will take place in a single Web3 “place,” transfers from one to another with associated loss of time are now bypassed.
Private storage and transaction keys will be stored directly in the device thus giving the user as little work as possible while providing state-of-the-art levels of security.
Trust Wallet facilitates Web3 access with Binance Pay and Coinbase Pay
The integration of Binance Pay and Coinbase Pay into Trust Wallet will allow wallets from the most widely used platforms to be connected, creating an open source ecosystem that will also allow people to easily approach Web3.
In the past, these practices took a lot of time and several steps which in a world that is in a hurry and especially where time is money held back investors a lot.
The update, in addition to uniting Binance Pay and Coinbase Pay, allows for the first time to better experience the two sides of the same coin namely CeFi (centralized finance) and DeFi (decentralized finance).
Binance’s Wallet is chosen by more than 60 million people around the world and boasts as many as 10 million active users each month, putting the wallet in first place and above more inflated names such as MetaMask.
According to Binance Pay global head Jonathan Lim:
“Binance Pay is excited to be integrated with Trust Wallet to streamline the process for users to transfer their cryptocurrencies between two services. Trust Wallet is the first decentralized wallet we supported, Binance Pay looks forward to becoming the key gateway to Web3 by bridging the worlds of CeFi and DeFi.”
He is echoed by Bipul Sinha, product manager at Coinbase:
“At Coinbase, we are looking to build a bridge to Web3, giving more people the benefits of seamless access to the crypto-economy. We designed Coinbase Pay to make it easier than ever for users to get ready for Web3, with the ability to fund their self-custody wallet or dapps in just a few simple steps. We’re excited to work with leaders like Trust Wallet to bring that ease to the ecosystem.”
Eric Chang, finally, chief product officer of Trust Wallet concludes:
“Our goal at Trust Wallet is to make cryptocurrencies and DeFi very easy to use for everyone. With the addition of Binance Pay and Coinbase Pay we want to introduce simpler and cheaper ways for people to access web3 while reducing the friction from the user journey as much as possible.”
Binance Pay is the payments division that allows users of CZ’s company to fulfill purchases using both contactless and borderless.
First in the world by security standards, it allows Binance users to sleep soundly in a crypto world still shaken by turmoil, and all without the burden of fees of any kind and magnitude.
Binance Pay records a volume of more than $12 billion and 17 million transactions, payments are recognized by more than 7,000 merchants and it is used by millions of users across the planet.
Coinbase Pay from Coinbase allows users to quickly deposit assets securely into self-storage or dApp.
Digital currency transactions can take place directly through the wallet with a crypto balance or other optional payment methods on the platform.
The payments company boasts more than 60 fiat currencies and more than 200 cryptocurrencies placing it at the top of its competitors.