Global cryptocurrency firm Binance recently unveiled its Web3 Wallet at the Binance Blockchain Week conference in Istanbul.
In a statement, Binance revealed that the Web3 Wallet is a self-custody cryptocurrency wallet that functions as a digital entry point into Web3 and will be integrated within the Binance app.
The firm highlighted that it will grant users the ability to securely and efficiently exchange tokens across diverse networks at optimal rates, access a range of decentralized applications (dApps), facilitate swift transfers between their wallet and the exchange, generate yield on their cryptocurrency holdings, and more—all through a single wallet.
"Web3 wallets represent more than just storing digital assets; they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance," Changpeng “CZ” Zhao, CEO and Founder of Binance, stated.
He also stressed that they believe Web3 will improve the freedom of money around the world and that the industry must continue to build tools that onboard and protect users while also reducing friction for them.
“To help drive Web3 adoption, we have to identify and plug the gaps between centralized and decentralized systems,” CZ added.
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