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Binance is continuing its expansion in the crypto industry. It has acquired a China-based decentralized blockchain startup DappReview for an undisclosed sum.
This year crypto exchange Binance has been on an aggressive expansion in the crypto industry. Right from rolling out its native BNB cryptocurrency to launching its sp-called Launchpad for IEOs, Binance has been expanding its products and services as the crypto industry continues to evolve further.
In the latest development, Binance has acquired a China-based decentralized blockchain startup DappReview for an undisclosed sum. DappReview is basically an evaluation platform offering data-driven research and advertising services. At present, DappReview tracks around 4000 decentralized applications (DApps) spread across 10 public blockchains like Tron and Ethereum.
With this acquisition, DappReview will now help Binance develop new blockchain use cases and DApps, said Viktor Radchenko, founder at Binance’s Trust Wallet. Speaking to CoinDesk, Radchenko further 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.”
On the other hand, Binance will offer help DappReview in marketing, business development, and other operations. Speaking on this acquisition deal, Vincent Niu, founder of DappReview, said:
“By working with Binance X [the company’s developer network] and Launchpad, DappReview will bring in more talented Dapp developers and assist promising Dapp projects on fund-raising. A lot more exciting synergies with Trust Wallet, Binance Research, etc. DappReview will partner with the public chains and protocols in the Dapp space through Binance’s ecosystem.”
Niu further added that by Q1 2020, DappReview is planning to release a new set of analytical tools and products. Besides, this acquisition will also help Binance to have a fully-owned subsidiary operating from China. Thus, it will help to have a presence in the Chinese markets as well.
Binance CEO Changpeng Zhao Sees Turkey as a Key Market
As Binance continues with its expansion spree, Binance CEO Changpeng Zhao has praised Turkey for its blockchain initiatives. Zhao was recently attending a B2B event in Turkey, the annual Turkish Capital Markets Summit in Istanbul. In a candid interview with Cointelegraph publication, CZ spoke about his plans to expand in Turkey and the underlying potential in this market. He said:
“Turkish community showed a high degree of understanding of blockchain. Our goal is to serve the best interest of our Turkish community and responding to their demands. We are working to develop more services to our Turkish community and will soon.”
Binance said that it has partnered with a local digital wallet service provider Papara. This partnership will allow Turkish people to directly purchase Bitcoin, Ethereum, and XRP on Binance through Papara’s digital wallets. Furthermore, Binance is also working on allowing users to buy crypto using Turkey’s fiat currency, the Turkish Lira.
“Turkey is a vibrant country that has illustrated one of the strongest demands and fast-growing interest in crypto. At Binance, we strive to provide the best product, most stable exchange platform, with great local language customer service, and of course, lowest fees”, said CZ in a concluding statement.