Binance started exploring its own Web3 wallet


Yee He, co-founder and director of customer experience at Binance, said they have started exploring their own Web3 wallet.

Binance's Web3 wallet is currently in a trial period and continues to integrate various blockchains.

The Binance Wallet SDK tool for Web3 developers was announced in April. This technology will facilitate the implementation of third-party protocols into the Binance DeFi wallet. This is expected to lead to a significant increase in both usability and capabilities of Web3 products.

Binance DeFi Wallet is created using advanced multi-party computation (MPC) technology. This means that each participant in the smart contract has its own key fragment, making it less likely to be exposed to any type of malicious attack. Moreover, this wallet will incorporate features from the Binance ecosystem - such as Binance ID and SoulBound tokens.

Developers are constantly introducing new features to facilitate integration with other services offered by Binance, and are also planning to add new networks, Yee He said in a tweet.

Initially, access to the Wallet SDK was open exclusively to partners within the ecosystem, but if you are interested in testing it, you can contact Binance's business development team. The exchange is now looking for new partners to offer additional services to future users of its DeFi Wallet.

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