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Trust Wallet App Backed by Binance Launched Their DeFi Platform

2 min read
Trust wallet defi

Trust Wallet a cryptocurrency wallet backed by Binance is an app where you can store different kinds of tokens like BTC, TRX, BNB, ETH, and many others recently announced its latest product, the Trust Platform.

Users can manage their crypto assets without the need to trust any human intermediary to take care of their assets. Moreover, users will now be able to stake cryptocurrencies and participate in the security of the blockchain network. Using the staking functionality users will also have a way to earn interest on their crypto holdings.

However, there is a limited option for staking and users can stake Cosmos (ATOM) and Tron (TRX) at the moment. They have also announced that Tezos (XTZ)  will be live on the platform on Oct. 24, 2019, followed by Waves (WAV), IoTeX (IOTX), and integration with Compound but no specific dates yet.

Trust Platform

Aside from Trust Wallet, the Trust Platform will also be compatible with hardware wallets in the future.

Trust Platform Wallet Integration

Trust Platform aims to become a universal Staking and DeFi platform that works across all Blockchains and Devices. The team is constantly working on building out, improving, securing, and innovating the code everyday. They are also encouraging developers to look at their repository as the code is open source. Developers can easily explore with the code, use it for their own project, or add more functionality for the Community.

Founder Viktor Radchenko commented on the recent announcement:

“Trust Platform will provide users easy access to decentralized finance on any blockchain and provide developers all the necessary tools to build integrations on top of it to integrate more services like WalletConnect or support for different software and hardware wallets. Trust Platform will give anyone access to a new Decentralized Financial System without central control.”