Binance’s official crypto wallet app, the Trust Wallet starts supporting multiple decentralized exchanges as announced on 24th July. Trust users can now exchange crypto right from the wallet App.

The latest version of Trust Wallet will now feature a Multi-Dex exchange option along with the native Binance Dex for all the supported cryptocurrencies. Integrating the Kyber Network liquidity protocol, Trust users have access to more number of decentralized exchanges. Kyber is a startup that provides on-chain liquidity protocol for liquidity aggregation. With the integration of the protocol Trust wallet, users will have access to a wide range of cryptocurrency reserves which will aid instant and secure token exchange over multiple decentralized exchanges. It is Kyber’s cross-chain interoperability that will allow multiple decentralized exchanges to operate through Trust wallet. The users will be able to swap all the digital assets they hold from the app itself.

Binance is yet to provide the details of DEXs the Trust wallet will support. Currently, there are over 15 DEXs in the market over which the total traded volume is less than 1% of the centralized exchanges. This integration is speculated to add some more volume to the DEX trading platforms.

 

The Multi-Dex support by Kyber protocol and Trust integration offers the DEX enthusiasts an intuitive exchange interface with lots of features. The interface does not require users to maintain any complicated order books. The integration promises to bring more safety to the crypto swapping as the users would no longer require to move their crypto assets from App to App. Trust wallet app will be the one where they can maintain complete control of their assets in a secure manner.

Despite 15 more DEXs in the market, Binance DEX is one of the most popular ones. When the overall Binance trade volume is segregated, the Binance DEX has contributed only 0.2% over the last 30 days.  In the last 24 hours, Kyber traded crypto worth $1 million while during the same window Binance DEX traded volumes worth $8 million. According to the experts, the integration will direct more DEX volumes in one direction and is a piece of positive news for both Kyber and Binance.

According to Viktor Radchenko, Trust Wallet founder, more such protocols might be integrated into Trust Wallet in future. Supporting the integration of Kyber protocol, Viktor said the partnership favors their mission to build a trustless, decentralized and intuitive platform for financial services.

The Kyber Protocol integration expands the pool of ERC20 token liquidity for Trust wallet users. While the first version of Trust wallet supported the exchange of only Ethereum and ERC-20 Token, it extended its support to many other cryptocurrencies with the release of version 2.0. Trust has undergone multiple such integrations after its release that extended the wallet features. Today Trust wallet can interact with over 100 dApps and all that through an intuitive interface which can be used by both pros and novice.


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