Binance adds support for XRP, credit card payments to its Trust Wallet
The crypto exchange continues to expand its capabilities
Binance, the third largest cryptocurrency exchange by volume, made its first public acquisition when it purchased the Trust Wallet in July of last year. Since then, it has worked to expand the wallet’s capabilities – which were initially limited to just Ether and Ethereum-based decentralized apps (Dapps) – and began supporting Bitcoin (BTC) and other coins. Binance has announced that the wallet now supports Ripple’s XRP, as well as credit card purchases.
The Trust Wallet is a decentralized wallet and can manage any type of crypto activity. As with other wallets, users can send or receive coins and store their assets, but they can also buy and sell directly from the app, as well. The wallet also includes Web3, a browser that is designed to allow better interaction with Dapps. With the inclusion of XRP support, it now supports 17 different cryptocurrencies.
The advanced flexibility of the Trust Wallet is going to prove to be vital when Binance introduces its new decentralized exchange (DEX). That exchange is expected to be launched at some point during the second quarter of this year and the Trust Wallet will be the native wallet of the platform.
This past January, Binance partnered with Israel-based payment platform Simplex to allow its users to buy crypto assets with credit cards. That capability has now been launched for the Trust Wallet, which give it the virtual capability of being used as a DEX. The wallet’s founder, Viktor Radchenko, explains, “We want to increase access to crypto and decentralized applications for all users. Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”
Binance continues to expand globally. It has not been concerned about the “crypto winter” and is continuously launching into new territories. As crypto adoption gains more speed, it is going to be in a perfect position to be a major force on the market.