coinspeaker.com
Launching an on and off-ramp service with MoonPay and Ramp Network is just another direct avenue to push the millions of users that rely on Binance for these services to become largely independent.
Decentralized crypto wallet infrastructure and service provider Trust Wallet has inked a new partnership with MoonPay and Ramp Network as it seeks to introduce additional utility for the benefit of its users. According to a CoinDesk report, the partnerships with the two payment services will enable Trust Wallet users to convert their tokens to fiat directly from the app.
Trust Wallet is one of the dominant decentralized crypto wallet service providers and since its inception, it has amassed more than 60 million users. When FTX Derivatives Exchange imploded last year, it sent a shockwave into the industry with the clamor for non-custodial savings culture growing.
The event saw the relevance of wallet providers like Trust Wallet, Phantom, and MetaMask among others soar with fear pushing users to adopt the wallet. However, Trust Wallet is now pivoting away from fear to offer users more functionalities that can beat hundreds of rivals around.
With the on-ramp technology being rolled out by MoonPay and Ramp Network for the benefit of Trust Wallet users, the dependence on centralized exchanges for liquidating assets will now be reduced to the barest minimum.
“Before our partnership, Trust Wallet users had to choose between the risk of simple, centralized custodial solutions, and the more demanding journeys of more secure, non-custodial solutions,” said Said Szymon Sypniewicz, chief executive officer at Ramp.
According to the Trust Wallet announcement, the new payment service will also unlock enhanced benefits for its users who hold at least 100 Trust Wallet tokens. As unveiled, this token cap will help reduce the on-ramp fees for the qualifying users, thus making the entire service more accessible.
The Trust Wallet token (TWT) is riding on this news to chart a bullish growth run. At the time of writing, TWT is changing hands at $1.29, up 10.57% over the past 24 hours per data from CoinMarketCap.
Trust Wallet On Ramp Feature, a Truly Independent Move
Trust Wallet as a wallet and Web 3.0 infrastructure service provider is under the broader Binance exchange umbrella after the acquisition of the former back in 2018. As a vibrant offshoot of the world’s largest trading platform, Trust Wallet launched full support for Binance DEX as reported by Coinspeaker back in 2019.
Launching an on and off-ramp service with MoonPay and Ramp Network is just another direct avenue to push the millions of users that rely on Binance for these services to become largely independent.
Binance as an exchange has other known Web 3.0 infrastructure service providers as its subsidiaries with CoinMarketCap one of the biggest known outfits. One thing is common, and that is the fact that the exchange claims to give complete autonomy to these entities, a saying that has now been confirmed with this latest offering from Trust Wallet.