Users can now send, receive, and swap tokens on the Solana network with greater ease and access a suite of Solana-based decentralized applications.
Binance has integrated its Binance Web3 Wallet with the Solana network in a much-anticipated move marking the latest update on the crypto exchange’s wallet.
Binance’s Web3 Wallet is progressively developing into a multi-chain, self-custodial wallet, now providing access to a wider range of blockchain networks, including those that are based on the Bitcoin, EVM, and Cosmos networks.
Send, receive, and swap tokens on the Solana network
Users can now send, receive, and swap tokens on the Solana network with greater ease and access a suite of Solana-based decentralized applications (dApps), including Drift, Dual Finance, Jito, Jupiter, Magic Eden, MarginFi, Orca, PsyOptions, Pyth Network, and Raydium. More dApps will be added progressively over time, the company stated.
Just within the past two months, Binance has rolled out and made numerous enhancements to the Web3 Wallet. Notable enhancements include:
Launch of the Binance Inscriptions Marketplace, which enables the minting and trading of inscriptions;Rollout of an Inscriptions Accelerator, powered by our BTC Transaction Accelerator, aimed at reducing transaction waiting times;Addition of support for ERC-404 tokens, thereby increasing the array of tokens our users can engage with;Integration of various networks such as Blast, Manta, ZetaChain, Metis, Scroll, and zkFair, bringing a diverse range of functionalities within our wallet;Expansion of the range of dApps integrated within the platform, with 24 dApps added in February alone, thereby enhancing the scope of services for its users.
Binance has also unveiled ‘dApp Hub’, a UI overhaul that is meant to consolidate all trending dApps within one single tab.
Binance launched self-custodial wallet in November 2023
The crypto exchange’s self-custodial Web3 Wallet was launched in November 2023 during the Binance Blockchain Week in Istanbul.
The Web3 Wallet, integrated within the Binance app, serves as a self-custody wallet, offering users a straightforward method to engage with a myriad of tokens across diverse networks, delve into decentralized apps, transfer funds effortlessly, and generate yield on their crypto holdings—all within a single, secure environment.
Binance has meticulously designed the wallet with the user experience as its paramount objective, striving to make the Web3 realm more accessible and straightforward for users of all experience levels. The wallet boasts features such as:
Users can swiftly set up their Web3 Wallet directly in the Binance mobile app, with seamless access to decentralized applications and DeFi services without switching platforms. The wallet facilitates an accessible and seamless way to put crypto assets to work, offering a suite of Earn and DeFi services to leverage digital assets fully. Utilizing MPC technology, the wallet enhances security by dividing a user’s private keys into parts, ensuring the safety of funds, with the user retaining control over the majority of key-shares.