Binance has announced that Solana has been integrated into its Web3 Wallet. Binance has taken a significant step forward in the realm of Web3 by integrating Solana into its Web3 wallet, according to the report.
TakeAway Points:
- Solana has been integrated into the Binance Web3 Wallet.
- Users of the Binance Web3 Wallet can now transfer and receive tokens over the Solana network.
- In addition, ten Solana-based decentralised applications (dApps) are now available on the Binance Web3 Wallet.
Solana in Binance Web3 Wallet
According to a recent press release from the exchange, Binance hopes to integrate the Solana network into its Web3 Wallet in order to make it a multi-chain, all-inclusive, self-custodial wallet that can accommodate its users’ various Web3 requirements.
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Users now have access to a wider variety of blockchain networks, such as those built on Bitcoin (BTC), Ethereum, and Cosmos (ATOM), according to the exchange.
Benefits
According to the report, users of the Binance Web3 Wallet can now transfer and receive tokens over the Solana network. They can also experiment with and use different decentralised applications (dApps) built on Solana.Ā
In addition, ten Solana-based decentralised applications (dApps) are now available on the Binance Web3 Wallet: Drift, Dual Finance, Jito, Jupiter, Magic Eden, MarginFi, Orca, PsyOptions, Pyth Network, and Raydium.
dAPP Hub
As part of the integration, Binance also unveiled the redesigned user interface (UI), known as “dApp Hub. The redesigned user interface makes it easier for consumers to discover and safely engage with popular dApps by combining them all into a single tab.
“more dApps will be progressively added over time.”
the exchange said.
However, the incorporation of the Solana network coincides with Binance’s recent spate of enhancements to the Web3 Wallet.Ā
These include the introduction of the Inscriptions Accelerator to shorten transaction wait times, the Binance Inscriptions Marketplace for minting and trading inscriptions, the support for ERC-404 tokens, network integration, and the addition of other dApps to increase service offerings.
Furthermore, this integration happened 9 days after Binance suspended Solana withdrawals due to an increased volume of transactions on the network, according to a press release.
