Binance, one of the largest crypto exchanges globally, integrated the Kyber Network protocol enabling a number of decentralized exchanges to use the exchange’s Trust Wallet. On July 2019, the news was officially announced to Cointelegraph.
Kyber is a blockchain-based liquidity protocol that can be used by anyone for inter-token exchanges. It operates as an alternative to traditional centralized exchanges.
The Trust Wallet was purchased by Binance in 2018 as the platform allowed the storage of Ether and tokens based on the coin’s platform. The wallet is decentralized and open source. It was launched on the Binance Decentralized Exchange platform in June.
Because of the collaboration with the Kyber Network protocol, most of the Decentralized Exchange Ecosystem became available for platform users. Transactions between different decentralized exchanges become easier too.
Binance disclosed its plans on their new wallet in the Spring of this year. The exchange noted that the Trust Wallet will only support crypto coins and tokens operating by the proof of stake algorithm. The wallet will also integrate the Lightning network as well as provide staking services.
Platforms that are built in a way to operate with others are becoming increasingly popular. For instance, NEO has cooperated with Ontology to develop a worldwide open-source platform that operates across different blockchains.