Trust Wallet is the official wallet of the Binance cryptocurrency exchange, the largest crypto-exchange in the world (by volume). Binance is one of the most successful and trusted names in the world of cryptocurrencies. The company keeps updating their products and offerings from time to time - ensuring that the users get the best of experience. A major update came to Binance’s Trust Wallet earlier this week, which has introduced two of the most demanded features.
Binance’s Trust Wallet now supports Ripple (XRP). Moreover, after this update, users of the Trust Wallet can make use of their Credit Cards to purchase cryptocurrencies! In order to get the Credit Card functionality rolling, Binance tied up with Israel-based payment processing firm Simplex.
Viktor Radchenko, the founder of Trust Wallet, commented on this development, saying:
“We want to increase access to crypto and decentralized applications for all users[…]Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”
In addition to introducing the support for purchasing cryptocurrencies via Credit Card, the Trust Wallet also introduced support for Ripple (XRP) cryptocurrency. The wallet had started off in November 2017, and it only supported Ethereum (ETH) and other ERC-20 tokens at the time. However, Binance acquired it in mid-2018 and has since added a number of other cryptocurrencies.
Following the latest update to the Trust Wallet, users can now purchase Ripple, Bitcoin, Ether, Litecoin and Bitcoin Cash using all “major” Debit Cards and Credit Cards. Binance introduced the support for Credit Card payments on its cryptocurrency exchange platform in January 2018. Back then too, Binance had teamed up with Simplex, which now powers Credit Card support on Trust Wallet.
Credit Card payments make it easier for users to make cryptocurrency purchases. Earlier, crypto-exchanges were hesitant about adding this feature due to chargeback scams. However, of late, a large number of exchanges are beginning to introduce support for this form of payment.
Binance has got big plans ahead for the Trust Wallet. The company plans to make it the native wallet for Binance DEX, which is Binance’s decentralized cryptocurrency exchange. Binance DEX is all set to come out in Q2 2019. However, the company threw the floor open for public testing on 20th February.
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