Crypto Wallet Provider ‘Trust Wallet’ Acquired by Binance

[kreslik.news]

Binance, one of the world’s largest cryptocurrency exchanges by traded value, has acquired Trust Wallet, an Ethereum wallet that allows mobile users to access decentralized applications that run on the Ethereum blockchain. This acquisition is the first instance in which Binance, which made nearly $500 million in profits, has shelled cash to buy out a smaller company in the blockchain space.

The Malta-based cryptocurrency exchange made the announcement on Tuesday, just weeks after revealing that it is in the works to debut both its own ‎blockchain and an upgraded version of its cryptocurrency.

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