Trust Wallet Launches the Multi-DEX Feature with Kyber Network Protocol as the Flagship Platform
Trust Wallet announced the platform will allow multiple decentralized exchanges (DEXs) on the platform in a bid to increase the number of tokens available for trade. The initiative will see Kyber Protocol become the first DEX to integrate on the platform.
The new integration of multiple DEXs on the platform provides a gateway for users to seamlessly trade between different platforms, buy goods using your wallet and an easy way for you to interact with decentralized ecosystems.
Kyber Network Protocol launched on the platform on Wednesday this week to become the first platform to be integrated on the multi-DEX platform. The platform offers Trust Wallet users a greater access to financial services, a central liquidity pool and
“instant settlement through an open architecture of Kyber Network.”
Speaking on the latest integration of Kyber Protocol on Trust Wallet, the founder and CEO of Trust Wallet, Viktor Radchenko, said
“Our mission is to provide decentralized and trustless access to financial services through a simple and seamless interface. The Kyber Protocol will give all Trust Wallet users more options to instantly trade their assets and tap into a large pool of ERC20 token liquidity.”
He further offered assurance that his team are working on more partnerships to come in the near future. He said,
‘We are always looking ahead and will integrate more projects and protocols within our ecosystem, making crypto more accessible for our users in the process.”
Decentralized exchanges, however, lag behind in daily volume traded on the platforms – DEXs accounts for 1% of the total cryptocurrency trading volume. There is currently close to 20 DEXs in the market, with Binance leading the charts in the total volume traded in the past 30 days – $8 million USD (0.02% of total volume).
In mid-2018, Binance announced their purchase of Trust Wallet, which serves as a native wallet to Binance Decentralized Exchange (DEx). The wallet has seen a number of developments on the platform including Tesla electric vehicles transacting BNB cryptocurrency tokens and addition of a number of cryptocurrencies since the purchase.