Trust Wallet, Binance’s self-custodial crypto wallet, has integrated with global payment infrastructure provider Binance Connect to increase adoption of digital currencies.
The collaboration is said to help new adopters build or expand their crypto portfolio on different blockchains in a secure manner.
Previously called Bifinity, Binance Connect is the official fiat-to-crypto payments provider for Binance.
Trust Wallet helps store, send, as well as receive over 4.5 million of digital assets and NFTs on 66 blockchains. It has a user base of more than 60 million.
The platform is said to be one of the first wallets to support digital collectible initiatives of Instagram.
Binance stated that the partnership will offer a simplified process for users to access the Web3 assets.
Binance Connect executive director Zoe Wei said: “Our goal at Binance Connect has always been to increase crypto adoption and bridge the gap between traditional finance and the crypto economy.
“This partnership with Trust Wallet will help bring new users to Web3 in a convenient way.”
Currently, Trust Wallet’s users can buy over 200 crypto assets using credit or debit cards directly at a low price with support of over 40 fiat currencies.
Web3 users earlier had to go through a long process for direct crypto purchases on the blockchains.
Prior to sending the assets onto a blockchain, users had to do it via various centralised exchanges.
KYCed users, tapping Binance Connect, can now utilise their existing accounts to fund their Trust Wallet.
Trust Wallet CEO Eowyn Chen said: “We’re thrilled to partner with Binance Connect to pave an easier way for users around the world to join the exciting world of crypto and Web3.
“Trust Wallet sees fiat capability as a crucial infrastructure to support the development of the Web3 and crypto industry, especially in many developing regions.
“We’re pleased to be working with Binance’s powerful fiat infrastructure to widen access and lower the entry barrier for people in more corners of the world.”