Binance hits a new milestone as Trust Wallet reaches 5m users

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Written on Jul 31, 2020

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Binance's Trust Wallet recently hit a new milestone by reaching 5 million users.
With great interest and dApp and DeFi sectors, Trust Wallet now plans a strong expansion towards them.
The key, according to the wallet's founder, is to keep things simple and still add new functionalities.

On July 31st, 2018 — exactly two years ago — Binance exchange acquired Trust Wallet to expand its ecosystem and service. In the two years between then and now, the wallet managed to grow its user base to a new milestone of 5 million individual users.

With this achievement, Binance has decided to use the wallet to delve deeper into the DeFi sector.

The wallet already has a strong connection to the DeFi sector, as it claims that around 10% of its 5 million users are using it to access DeFi and dApp platforms. With that discovery, Binance decided to expand towards this sector as much as possible, and provide new opportunities for its users, while making it easier for those who were already accessing DeFi.

Of course, the wallet will need some help to keep pace with the DeFi ecosystem, which is growing quite rapidly in 2020. This is why in integrated several token swap platforms, such as Binance’s own BinanceDEX, as well as Kyber.

Trust Wallet’s mobile versions to receive new functionalities

Those who use Trust Wallet on their Android smartphones also have access to an integrated dApp browser, which also allows them access to various DeFi projects, as well.

Meanwhile, Viktor Radchenko, Trust Wallet’s founder, also revealed plans to add multiple DeFi protocols to Android and iOS versions of the wallet alike. The move would increase liquidity even further, and make the wallet even more intuitive and secure.

Keeping the wallet easy to use and navigate is extremely important, which is something that Radchenko understands. In fact, he said that simplicity is the key.

With that in mind, wallet users should not fear that the addition of new functionalities will make the wallet overly complex or difficult to navigate. Simplicity has been, is, and will be, the main priority, even when expanding its use cases.