Key takeaways:
- Popular self-custody mobile wallet Trust Wallet has announced integration with Binance Pay and Coinbase Pay
- The wallet says its move would improve user’s experience while also increasing accessibility
Trust Wallet, a prominent self-custodial and multi-chain wallet provider, on Wednesday, announced its integration with Binance Pay and Coinbase Pay.
According to the announcement, the integration aims at facilitating seamless crypto transfers from a Coinbase or Binance account to Trust Wallet. It also aims at increasing users’ access to Web3.
Exchanges integration aims at increasing accessibility
The integration will target and provide solutions to several issues experienced by Trust Wallet users. One major issue is the complexity of transferring crypto assets from centralized exchanges. The process usually involves several steps, including the manual provision of addresses, switching between apps, and selecting an appropriate network to complete the transaction.
Speaking on the development, Jonathan Lim, Binance Pay’s Global Head, expressed the company’s excitement in working with Trust Wallet. Lim described Trust Wallet as the first decentralized wallet that Binance Pay would support.
“Binance Pay looks forward to becoming the key access to Web3 by bridging the worlds of CeFi and DeFi.”
Similarly, Bipul Sinha, Group Product Manager at Coinbase, also expressed his company’s excitement to work with Trust Wallet to bring ease to the ecosystem. He added that one of Coinbase’s visions is to build a bridge to Web3 and, as a result, ensure easy access to the benefits of the crypto economy.
“We designed Coinbase Pay to make it easier than ever for users to get web3 ready, with the ability to fund their self-custody wallet or dapps in a few easy steps.”
However, these integrations have eliminated the need to provide wallet addresses manually. Through these integrations, users can now send crypto directly from their Binance or Coinbase accounts to Trust Wallet.
Meanwhile, the integration also aims at bridging centralized and decentralized wallets to create an open ecosystem for DeFi and CeFi. It would allow users to experience the best of Centralized and Decentralized Finance while also providing easy entrance to the Web3 universe.
Trust Wallet launches desktop extension
Earlier in the week, Trust Wallet announced a desktop extension that would support all EVM chains, as well as Solana. The extension is available on popular browsers like Chrome, Brave & Opera.
According to the press statement, features that exist on the mobile version would also be integrated on the desktop extension to “bring more parity between the desktop and the mobile version.”
However, the firm highlighted that some unique features could be launched on the extension first like hardware wallet support.
Trust Wallet Token (TWT), the wallet’s native digital asset, gained roughly 7% after the announcement on Wednesday. TWT has been experiencing strong bullish activity as of late, with the token showing more than a +102% weekly price change as of press time.
