Blockchain ecosystem Binance has launched its Web3 Wallet during the company’s Blockchain Week conference in Istanbul. The move is aimed at meeting the demand for a simple, convenient and secure way to experience the world of Web3.
Binance users can now explore the experience of Web3 without an onboarding process by serving as a digital gateway to what is dubbed as ‘the future of the internet’. According to Binance, users will have access to a secure method that’ll allow them to swap thousands of tokens across various networks at competitive rates or even transfer funds between exchange and wallet etc.
Richard Teng, head of regional markets at Binance said, “The overall aim when designing our Web3 Wallet is to help elevate the current user journey of experiencing Web3. We want our users to be assured that they are interacting with Web3 within a secure and protected ecosystem. That is why we have incorporated MPC technology as well as Binance’s trusted security infrastructure within the Web3 Wallet.
“The common stress of worrying about losing one’s seed phrase is removed, so that we can introduce a secure and smooth entry point for millions of users to safely and easily explore the Web3 universe,” Teng added.
Three main benefits
For many users, navigating Web3 can be daunting. The Binance Web3 Wallet is designed with user experience as the cornerstone of its development, aiming to bridge the gap and make Web3 more accessible and user-friendly by offering a host of benefits, including:
- Unparalleled Simplicity
- All-In-One Convenience
- Robust Security
“Web3 wallets represent more than just storing digital assets; they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance,” says Changpeng Zhao (‘CZ’), CEO and founder of Binance. Much as we believe Web3 will improve the freedom of money around the world, our industry must continue to build tools that onboard and protect users while also reducing friction for them.
“To help drive Web3 adoption, we have to identify and plug the gaps between centralized and decentralized systems. Binance’s Web3 Wallet lowers the barriers of entry for users to achieve full self-custody of their assets and it is an important, convenient bridge towards DeFi empowerment. Ultimately, our priority is to ensure users can explore Web3 with us within a user-friendly and protected environment,” Zhao added.
The Binance Web3 Wallet is built in collaboration with the product and engineering team at Trust Wallet, leveraging their wallet technology infrastructure. Despite this partnership, Binance retains complete autonomy over the Web3 Wallet’s features, operations, and services. To ensure a smooth transition and address any user queries or assistance requests, Binance is also providing 24/7 customer support for users.