Binance Announces Adding Support For MetaMask Wallet On Its Panama Bridge Service

By Ketaki Dixit
Published October 12, 2020 Updated October 12, 2020
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Binance Announces Adding Support For MetaMask Wallet On Its Panama Bridge Service

By Ketaki Dixit
Published October 12, 2020 Updated October 12, 2020

Binance DEX, the decentralized exchange platform that works on Binance Chain blockchain built by Binance, announced in a tweet that its Panama Bridge Service has added support for the  Ethereum DApp browser, called ‘MetaMask’ wallet.

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Binance had earlier explained the workings of the wallet and had stated that,

“What makes MetaMask so interesting is that it can interface with websites. With other wallets, you’d need to copy-paste payment addresses or scan a QR code on a separate device. With the MetaMask extension, the website simply pings your wallet, and you’re prompted to accept or reject the transaction. MetaMask can serve as a regular crypto wallet, but its real strength is in seamlessly interfacing with smart contracts and decentralized applications. Let’s now look at how to set it up.”

The Malta-based cryptocurrency exchange has been enjoying its positions as one of the most crucial players and has been able to rise to fame in the decentralized world as well. The latest integration is further expected to benefit the Binance ecosystem. This can be due to the fact that, for many in the community, MetaMask happens to the go-to wallet. It has managed to create in the niche for itself.

Moreover, MetaMask recently reported crossing the 1 million monthly active user mark for the first time across its desktop and mobile apps.

Source: MetaMask

The parabolic rise in MetaMask’s user chart can be attributed to the success of DeFi. Further accelerating the growth curve was the major growth in the adoption of DAOs, Web3 games as well as the rapid consumer uptake of DeFi products and services over the past year.

Founded in 2016, MetaMask has so far operated as a browser extension that allowed its users to connect their crypto wallets to websites that are a part of the Ethereum network. Moreover, the wallet has been managing users’ Ethereum wallets enabling them to send and receive ETH through DApps.

As the ongoing conversation surrounding Web 3.0 or the decentralization of the Internet intensified, MetaMask has joined the league of other crypto tools and firms that aim to give users more privacy. Binance’s association with it is expected to bolster MetaMask’s adoption in the coming days.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Ketaki Dixit
94 Articles
Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.

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