Binance DEX Arrives to Trust Wallet for Direct Crypto Trading
Based on the Binance Chain, the decentralized exchange is currently growing its volumes, as new assets are set to be added for trading.
Binance DEX will be available anywhere and at any time through the Trust Wallet, the official app recently acquired by the Binance exchange. On June 5, the Trust Wallet app officially announced Binance DEX integration, giving universal access to a new modality of cryptocurrency trading.
“One of the essential needs for a working crypto economy is to have the ability to swap or exchange your digital assets,'' said Trust Wallet Founder Viktor Radchenko in an emailed statement.
‘’This, and the ability to always stay in control of your own Money. Binance Chain and Binance DEX fulfill both these needs.”
Binance and Trust Wallet are now offering an integrated and intuitive approach to using a decentralized exchange. The DEX model has been offered as a solution to the risk of storing funds with an exchange. A DEX can also list many more assets to create price discovery and is borderless and permissionless.
Binance DEX is currently growing its volumes, and does about $14 million’s equivalent in 24 hours. For now, most of the activity is concentrated on the Harmony (ONE) token, but more assets may be added in the future. Binance DEX will also test a new stablecoin pegged to the British Pound, to allow for more trading pairs and liquidity.
Binance Chain is a newly created blockchain which is still in the custodial server stage, but in the future is expected to include the community in block production.
“With no central custody of funds, Binance DEX offers far more control over your own assets. We hope this brings a new level of freedom to our community. We will work closely with projects and teams to grow the entire ecosystem,” said Changpeng “CZ” Zhao, CEO of Binance, for the launch of Binance DEX on its native blockchain.
Trust Wallet is one of the startups in the cryptocurrency space that has grown beyond its initial function of storing Ethereum-based assets. The wallet now gives access to multiple blockchains, distributed apps, and supports the Binance ecosystem.
Binance Coin (BNB) is also instrumental in using the DEX, and it continues to forms multiple pairs on the central Binance market. BNB fell toward $29.83 during the latest sell-off, down from record prices near $35.