By George Ward
Earlier in the week, crypto giant, Binance revealed it had fused Binance Pay and Trust Wallet. Binance Pay is a secure payment technology developed by Binance.
The new integration will allow users to enjoy no-fee transactions when moving crypto between Trust Wallet and Binance. Also, they do not have to input/scan wallet addresses during transfers.
Trust Wallet’s statement noted that the merge would improve transactions between Trust Wallet and Binance Pay. Meanwhile, the Trust Wallet team stated that users were experiencing several difficulties before this integration.
Users had to scan/input wallet addresses when transferring their digital assets between both platforms. Also, transactions are slow, with high network charges.
Furthermore, navigating between both apps can be a cumbersome process for individuals. Sometimes, users make mistakes when entering the wallet address of the receiver. However, all these setbacks are now an issue of the past.
Users no longer have to go through stress when moving assets. Instead, they can conduct transactions efficiently and with no charges.
Besides, the Binance Pay payment system offers zero fees and fast payment with support for over 200 digital currencies. Binance has now extended this feature to Trust Wallet transfers.
In addition, the Global Leader of Binance, Jonathan Lim, commented on the company’s progress. He noted that the fusion of Trust Wallet and Binance Pay is a massive achievement for Binance.
Binance Bridges The Worlds Of DeFi and CeFi
According to Lim, the fusion will remove all frictions users face when navigating both platforms. Additionally, Lim stated that Binance wanted to add a decentralized wallet to its platform.
“Trust Wallet stood out as a better option for Binance,” he added. The Global Head further said Binance Pay wants to bridge the worlds of DeFi and CeFi.
Hence, users can quickly move assets from CeFi to DeFi platforms with little traction. Similarly, Eric Chang, Trust Wallet’s Head of Products, also applauded the integration.
According to Chang, the goal of Trust Wallet is to make it easier for users, both current and future, to experiment with decentralized and centralized networks. Therefore, incorporating Binance Pay will make it easier for customers to have smooth and cheap access to Web3.
Furthermore, users can store over 8 million digital assets, including NFTs, in their Trust Wallet accounts. According to Trust Wallet, the service is user-friendly and has exceptional security.