Trust Wallet, the official crypto wallet app of Binance Dex, released the latest version that supports Multiple DEXs. With the integration of Kyber liquidity protocol by Kyber Network, Trust Wallet users will be able to swap their cryptocurrencies over multiple decentralized exchanges.
Kyber Network supports greater interoperability between multi decentralized exchanges through its on-chain liquidity protocol which is a cross-chain solution. Binance acquired Trust Wallet App in 2018 and since then it has acted as an official Binance Dex Wallet. With over 15 DEXs in the market, Binance is yet to disclose the list of DEXs Trust Wallet will support now.
According to the last 30 days data from Binance, around 99.8% of the trading volume is on Binance Centralized Exchange while Binance DEX contributes only 0.2%. The Multi-Dex support by Kyber liquidity protocol makes it easy for Trust users to swap cryptocurrency as the interface is simple and integration gives the user access to a bigger liquidity pool.
While looking at the volume of crypto trading on Kyber and Binance in the last 24 hours, there is a large gap. While Kyber trade volume was close to $1 million, Binance DEX traded crypto worth $8 million. As Kyber Protocol integration to Trust Wallet is promising to expand the pool of ERC20 token liquidity, the aggregated trade volumes are expected to soar.
Trust Wallet started by supporting only Ethereum and ERC-20 but with the release of its next version, Trust Wallet now supports the exchange of some major cryptocurrencies also.