The world’s largest crypto exchange by trading volume has introduced a new self-custody wallet that enables one-click access to the blockchain from the platform’s mobile app.

Binance says the new wallet serves as a bridge between the exchange and decentralized finance (DeFi) ecosystems and allows users to take charge of their own assets, trade tokens across different networks, earn yields and access blockchain platforms.

Says Binance CEO Changpeng Zhao,

“Binance is now your one app for all things web3. Our new Web3 Wallet lets you connect DeFi to CeFi (centralized finance) in one click.” 

The Binance Web3 Wallet currently supports 36 networks, including Ethereum (ETH), Polygon (MATIC), Arbitrum (ARB), Optimism (OP), and Avalanche (AVAX).

Users can also access eight decentralized apps (dApps), including PancakeSwap V3, Venus, ApolloX Finance, Uniswap V3, Balancer V2, Lido, Beefy and OpenSea Seaport.

The exchange says it is rolling out the wallet in a bid to onboard more people into web3 by making the decentralized internet accessible to users.

“Recognizing the challenge web3 can present to those unfamiliar with it, we’re proud to launch the Binance Web3 Wallet. Created to bring the next billion people to Web3, our wallet simplifies this potentially complex terrain.”

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Author: Rhodilee Jean Dolor

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