By
Chimamanda U. Martha
April 25th, 2024
Trust Wallet claimed that the Binance newly launched Web3 wallet unveiled during the company’s Blockchain Week is a product of its WaaS technology.
Decentralized wallet provider Trust Wallet has announced the launch of its new product Wallet as a Service (WaaS) to promote the adoption of the Web3 ecosystem.
In an announcement on Wednesday, the company said WaaS was designed to offer businesses various tools to provide Web 3 services to their customers.
“In a digital economy where decentralization is rapidly becoming the new frontier, we’re proud to announce our Wallet as a Service (WaaS) – a groundbreaking initiative designed to empower businesses of all sizes with the tools to onboard their users onto the Web3 space seamlessly,” the company said.
Available for Both Crypto Natives and Traditional Companies
Trust Wallet said in the announcement that the newly launched product will be available to a variety of companies, including decentralized finance (DeFi) applications, centralized exchanges, and even new startups.
The company will also extend its services to corporate entities and small businesses outside the crypto ecosystem that plan to expand their offerings with crypto solutions explicitly designed to create tailored Web3 experiences with unparalleled ease and security.
“With our WaaS, companies can combine the adaptability of Web3 with the operational ease of traditional platforms, creating a space where innovation and user-friendliness coexist.”
Aside from businesses, the WaaS is also suitable for individual users, serving as a no-fuss adoption of Web3, removing the barriers that have traditionally made navigation and security a challenge.
Trust Wallet claimed that the Binance newly launched Web3 wallet unveiled during the company’s Blockchain Week is a product of its WaaS technology.
“For companies, it means the ability to offer a For instance, in a recent showcase at Binance Blockchain Week, Binance launched its Web3 Wallet, a product of Trust Wallet’s Wallet as a Service technology.”
Trust Wallet Invites Business to Explore Its New Product
Trust Wallet has invited companies that want to explore the “transformative potential of blockchain technology” to work together to achieve their goals.
“If you’re a company seeking to delve into decentralized applications or an innovator eager to push the boundaries of what’s possible in the Web3 domain, we’re here to help turn your vision into reality.”
The company said it is deeply committed to the Web3 revolution and building an open ecosystem for everyone.
Meanwhile, the company’s native crypto, TWT, took a hit after Binance announced the launch of its new self-custodial Wallet.
The token plunged to over 12%, dropping to $1.45 over the past 24 hours, according to CoinMarketCap data. However, in the past week, the digital asset experienced an uptick, rising more than 60% after listing on Binance futures. The listing saw its daily volume skyrocket to around $476 million from $80 million on November 6.
Recall that Binance completed the acquisition of Trust Wallet in 2018 in a deal that involved a mixture of cash, Binance shares, and a portion of BNB tokens. Since then, the company has been operating under the umbrella of Binance Global Holdings.
Despite owning the self-custodial wallet provider, the company released its own Web3 wallet with the help of the team of software engineers at Trust Wallet.