Co-Founder and Chief Account Officer Yi He confirmed information that Binance has started testing its own Web3 wallet.
Recall that in April, Binance introduced the Wallet SDK tool for Web3 developers. It will help integrate third-party protocols with the Binance DeFi wallet. This will allow Web3 teams to significantly improve the functionality and usability of their products.
Binance DeFi Wallet is built on the latest cryptographic standard for multi-party computation (MPC). It assumes that each party in smart contracts has its own key fragment. This minimizes the risk of attacks. In addition, the future wallet will receive the full range of functions of the Binance ecosystem, including Binance ID, support for SoulBound tokens, etc.
Developers are now implementing features to facilitate integration with various Binance services. They are also adding new networks – as Yi He’s new tweet says.
Initially, the Wallet SDK was only available to close ecosystem partners. Testing requests can be obtained by contacting the Binance Business Development Team. The crypto exchange is looking for partners who will provide some intermediary services for future DeFi wallet users.
Source: Cryptocurrency
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