Following the collapse of FTX and the bank run on crypto exchanges in general, self-custody Trust Wallet is gaining momentum. In one week, the company launched the long-anticipated browser extension and collaborated with Binance, whose users can now transfer their funds directly to a Trust Wallet account.ย
On Nov. 14, Trust Wallet launched its browser extension, now available in Google Chrome and Opera browsers. The extension lets users store, send and receive crypto across all EVM chains and Solana. A network auto-detect function provides users with a seamless dApp experience without the need to manually add networks.
The extension also includes multi-wallet support, NFT support, fiat on-ramp providers, and non-EVM blockchain integrations, as well as hardware wallet support.
On Nov. 16, the worldโs biggest crypto exchange, Binance, reported the launch of Binance Payโs Trust Wallet integration. Now, Binance users wonโt have to scan or input a wallet address, having their Trust Wallet among the direct withdrawal options. And it wonโt cost anything above the blockchain gas fees. By press time, the function is supported solely on Trust Wallet Appโs Android version, but Binance announces the iOS version โsoon.โ
Related: 3 barriers preventing Web3 mass adoption โ Trust Wallet CEO
Earlier, Binance CEO Changpeng Zhao publicly endorsed Trust Wallet, stating that โself-custody is a fundamental human right.โ The move comes as no surprise, given that Binance owns the U.S.-founded wallet provider since 2018.
By Nov. 15, Trust Wallet Token (TWT) has surged by nearly 150% in six days, bucking the downturn in the cryptocurrency market, whose net capitalization has crashed by almost $100 billion in the same period. Meanwhile, the tokenโs trading volume has soared from 279 million TWT to 593.25 TWT in the same period, showcasing the marketโs conviction in its uptrend.
