Trust Wallet, a decentralized wallet provider, has announced the launch of its new product, Wallet as a Service (WaaS), to promote the adoption of the Web3 ecosystem. WaaS is a set of tools that enables businesses to offer Web3 services to their customers seamlessly and securely.
According to the announcement, WaaS is designed for various types of crypto companies, such as decentralized finance (DeFi) applications, centralized exchanges, and new startups. WaaS can also help corporate entities and small businesses outside the crypto space to expand their offerings with crypto solutions tailored to their needs.
WaaS Harnesses the Power of Web3
Trust Wallet claims that WaaS can combine the flexibility of Web3 with the ease of use of traditional platforms, creating a space where innovation and user-friendliness coexist. WaaS is also suitable for individual users, as it removes the barriers that have traditionally made Web3 navigation and security a challenge.
The company said that the Binance Web3 Wallet, which was launched during the Binance Blockchain Week, is a product of Trust Wallet’s WaaS technology. The Binance Web3 Wallet is a self-custodial wallet that allows users to access various Web3 applications and services.
Trust Wallet has invited companies that want to explore the “transformative potential of blockchain technology” to work with them to achieve their goals. The company has stated that it is deeply committed to Web3 technology and building an open ecosystem for everyone.
Meanwhile, the company’s native token, TWT, dropped by over 12% in the past 24 hours, according to CoinMarketCap data. The token’s price fell to $1.45 after Binance announced the launch of its new Web3 Wallet.
However, the token has gained more than 60% in the past week, after being listed on Binance futures. The listing increased its daily volume to around $476 million from $80 million on November 6.
