Trustology, the leading cryptoasset custody solutions platform, has announced that it has extended custodial wallet support to the Binance chain, enabling users to transact BNB and all third party cryptocurrencies with full custody over their assets. Convenient, custodial trading will soon be offered through Binance’s decentralized exchange (DEX) as well.
The announcement coincides with Binance’s recently published white paper outlining their plans to build a “smart chain”. Running parallel to the existing Binance chain, the smart chain will facilitate the creation of smart contracts and designing of dApps not only augmenting the Binance DEX, but another clear indication that Binance is likely to pursue the fast-growing DeFi ecosystem.
Trustology, who is already leading the charge in navigating the complexities of DeFi crypto custody, extended support for the Binance Chain and transactions on the Binance DEX in response to mounting demand from institutional investors and funds looking to access the DeFi ecosystem to grow AUM and enhance portfolio value.
“With the value locked in crypto DeFi markets hitting the $1 billion milestone earlier this year, a quarter of what it was worth a year ago, the market is poised for continuous growth. Binance developing their own DeFi ecosystem is an obvious win for the Binance Smart Chain, and for us as custodians as we’re always striving to offer our clients as many opportunities as possible to maximise earning potential in the financial markets,” said Trustology CEO Alex Batlin.
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