Cryptocurrency Exchange Binance Buys Ethereum Wallet Service in First-Ever Acquisition

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Binance, one of the world’s two largest cryptocurrency exchanges, has just completed its first-ever acquisition.

According to TechCrunch, the Malta-based exchange operator acquired Trust Wallet, creator of the eponymous mobile Ethereum wallet that includes support for ether, as well as ERC-20 and ERC-223 tokens. Terms of the deal have not been disclosed, but Binance confirmed that it included a mixture of cash, Binance stock, and Binance tokens (BNB).
Trust Wallet is not one of the better known Ethereum wallets. It has about 50,000 downloads on Android through the Google Play store, earning a 4.6 out of 5 star rating from 1,138 reviewers. Download statistics were not immediately available from Apple’s App Store, but the wallet had a comparable rating from a similar number of reviewers. For comparison, imToken, the most popular Ethereum wallet, has more than 5 million monthly active users, most of who are based in Asia.
“The Trust Wallet team shares the same values as us and the products are very complementary,” Binance CEO Changpeng “CZ” Zhao told the publication. “For users who like to withdraw funds into a wallet now we have a product they can use.”
Zhao said that Trust Wallet will continue to operate independently, with Binance providing some administrative and marketing support and otherwise serving as a “godfather” to the wallet service.

 https://www.ccn.com/cryptocurrency-exchange-binance-buys-ethereum-wallet-service-in-first-ever-acquisition/amp/

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