Binance Ecosystem Is Growing Startup by Startup

By December 24, 2019 DApps
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Binance, one of the largest cryptocurrency exchanges by trading volume, has been rapidly growing its ecosystem in the last few months.

While the exchange is constantly under the spotlight, it's easy to miss some of the developments connected to the company due to the sheer amount of news it's responsible for. As evidenced by recent reports, Binance has added few startups to its roster in the last few months.

Binance adds four startups

The first startup to be acquired by Binance community was Trust Wallet. Trust Wallet is a mobile crypto wallet that supports a large number of cryptocurrencies. Notably, Binance gave Trust Mobile the freedom to maintain the development of its products. While talking to reporters about the acquisition, Changpeng Zhao, CEO Binance stated:

"We are like the addition of a godfather for the baby."

Recently, Binance acquired its fourth startup, DappReview. In the announcement, Viktor Radchenko, founder at Binance's Trust Wallet explained that this new addition would help the wallet improve on its support for existing dapps while creating new blockchain use cases. He added:

"In the near future, Trust Wallet will integrate DappReview APIs to provide easy access to explore new dapps and crypto games, as well as more insight into Defi [decentralized finance] services, analytics, and usage."

Founded in 2018, DappReview provides data-based research services on about 3,900 dapps. Notably, DappReview will still retain control over its products after the acquisition.

In November, Binance acquired WazirX, a cryptocurrency exchange based in India. In September, it acquired JEX, a cryptocurrency exchange focused on the trading of cryptocurrency derivatives such as futures contracts and options.

While the exchange is constantly under the spotlight, […]

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