Binance Exchange announced the purchase of Trust Wallet, which allows its users to store more than 20 thousand tokens based on Ethereum. This is reported by Crypto Bloomberg.
The users control 100 percent of their funds. Now we have both a decentralized and centralized solution for custody.
Chief Executive Officer, Binance
As reported, Trust Wallet doesn’t access user wallets or hold private keys, the codes that let investors spend their coins.
The amount of the transaction was not disclosed, but Jao said that the value of the firm was small because of the narrow customer base. He also added that Binance intends to acquire several more companies and is already negotiating with some.