Launching an inbound and outbound service with MoonPay and the Ramp Network is just another direct avenue to empower the millions of users who trust Binance to make these services largely independent.
Decentralized crypto wallet infrastructure and service provider Trust Wallet has signed a new partnership with MoonPay and Ramp Network as it looks to introduce an additional utility for the benefit of its users. According to a CoinDesk reportpartnerships with the two payment services will allow Trust Wallet users to convert their tokens into fiat directly from the app.
Trust Wallet is one of the dominant decentralized crypto wallet service providers and has amassed over 60 million users since its inception. When the FTX Derivatives Exchange imploded last year, it sent a shock wave through the industry with clamor for a growing non-custodial savings culture.
At the event, the prominence of wallet providers like Trust Wallet, Phantom, and MetaMask, among others, rose in fear of pushing users to adopt the wallet. However, Trust Wallet is now moving away from fear to offer users more functionality that can beat hundreds of rivals.
With the implementation of ramp technology by MoonPay and the Ramp Network for the benefit of Trust Wallet users, the reliance on centralized exchanges to settle assets will now be reduced to a minimum.
“Prior to our partnership, Trust Wallet users had to choose between the risk of simple centralized custody solutions and the more demanding journeys of more secure non-custodial solutions,” said Said Szymon Sypniewicz, CEO of Ramp.
According to the Trust Wallet announcement, the new payment service will also unlock enhanced benefits for its users who have at least 100 Trust Wallet tokens. As disclosed, this token cap will help lower entry fees for qualified users, thus making the entire service more accessible.
The Trust Wallet (TWT) token is building on this news to chart a bullish growth run. At the time of writing, TWT is changing hands at $1.29, up 10.57% in the last 24 hours. by data from CoinMarketCap.
Trust Wallet On Ramp feature, a truly independent move
Trust Wallet as a provider of Web 3.0 and wallet infrastructure services is under the broader umbrella of Binance exchange after the former’s acquisition in 2018. As a vibrant offshoot of the world’s largest trading platform, Trust Wallet launched full support for Binance DEX as reported by Coin Talker in 2019.
Launching an inbound and outbound service with MoonPay and the Ramp Network is just another direct avenue to empower the millions of users who trust Binance to make these services largely independent.
Binance as an exchange has other well known Web 3.0 infrastructure service providers as its subsidiaries with CoinMarketCap one of the largest known teams. One thing is common, and that is the fact that the exchange claims to grant full autonomy to these entities, said to have now been confirmed with this latest Trust Wallet offering.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real-life applications of blockchain technology and innovations to drive mainstream acceptance and global integration of emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based sites and media. Benjamin Godfrey is a lover of sports and agriculture.
