Binance is testing a Web3 Wallet

Co-founder and Director of Customer Relations Yi He confirmed the information that Binance has started testing its own Web3 wallet.

“Currently, the Binance web3 wallet is in the testing phase, and it continues to add several blockchains. Thank you for your support”

Recall that in April Binance introduced the Wallet SDK tool for Web3 developers. It will help integrate third-party protocols with the Binance DeFi wallet. This will allow Web3 teams to significantly improve the functionality and convenience of their products.

Binance DeFi Wallet is built on the latest cryptographic standard for multi-party computation (MPC). It assumes that each party in smart contracts has its own key fragment. This minimizes the risk of attacks. In addition, the future wallet will receive the entire set of functions of the Binance ecosystem — including Binance ID, support for SoulBound tokens, etc.

Now developers are implementing features to facilitate integration with various Binance services. And they are also adding new networks — as they say in Yi He’s new tweet.

Initially, the Wallet SDK was available only to close ecosystem partners. Requests for testing can be obtained by contacting the Binance Business Development team. The crypto exchange is looking for partners who will provide some intermediary services for future users of the DeFi wallet.