Binance launches Web3 wallet at Binance Blockchain Week 2023


Binance, the world’s largest cryptocurrency exchange, has announced the launch of a Web3 wallet that will allow millions of users to “explore and experience” the space “without the risk of losing their mnemonic phrase or running into difficulties.” Complex Difficulty with login process.

The product is a self-managed wallet built into the platform application.

The company announced the news at the flagship Binance Blockchain Week conference in Istanbul.

Web3 Wallet allows customers to exchange thousands of cryptocurrencies on over 30 networks, explore many decentralized applications (dApps), make fast transfers, earn profits from their holdings, and more.

“Web3 wallets represent more than just digital asset storage; they are an integral part of the Web3 framework, empowering individuals with financial independence,” said Binance CEO Changpeng Zhao (CZ).

The product is integrated directly into the exchange’s mobile app and users can activate it within seconds. It provides maximum security, using MPC technology to divide the user’s private key into three smaller parts, called key sharing.

Binance regional marketing manager Richard Teng said the wallet’s main goal is to “help enhance the Web3 experience journey for existing users.”

“We want our users to feel confident that they are interacting with Web3 in a safe and protected ecosystem. That’s why we’ve incorporated MPC technology into our Web3 wallet along with Binance’s trusted security infrastructure.

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According to Coindesk


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