DappReview, a Beijing-based research firm, has now been acquired by one of the world’s largest cryptocurrency exchanges: Binance. With the acquisition, Binance plans on developing existing dapps and creating brand new blockchain use cases.
The Mandatory Good Words
Viktor Radchenko, the founder of Binance’s Trust Wallet, gave a public statement about the matter. He explained that Trust Wallet and DappReview’s APIs would integrate in the near future. This will provide a more accessible platform to explore new crypto games and Dapps as well as give more insight into decentralized finance (DeFi) use, analytics, and services.
Binance itself gave a public statement regarding this. The company stated it would offer DappReview its support in various non-technical fields. Things like business development and marketing will be handled, while DappReview will remain autonomous in both operations and technical development.
“This acquisition marks a significant step into the dapps ecosystem, and we will have more exciting developments in the near future.” -@weizhouBinancehttps://t.co/0rQZLHyzoI
— Binance (@binance) December 3, 2019
Vincent Niu, DappReview’s Founder, had a few things to say about the deal as well. He explained that working with Launchpad and Binance’s developer network, aptly named Binance X, will bring many opportunities for DappReview. Niu cites the ability to bring in more Dapp developers and helping promising Dapp projects through fundraisers. Nia also mentions the possible synergies with companies like Binance Research, Trust Wallet, and more.
Developing The Dapp Ecosystem
Niu further stated that the DappReview service would partner up with the world’s public blockchains and protocols that make use of Dapps. They will do this through Binance and its ecosystem, Niu says.
Niu made it clear that the dapp platform will unveil a suite of new products come 2020’s first quarter. However, Niu declined to reveal the exact nature of the products, merely stating that it’s an analytical tool.
With this new acquisition in mind, Niu states that DappReview has plans to expand its footprint in the global market. Niu states that Binance will serve as the perfect partner by providing the needed support when it comes to branding and marketing.
Binance’s New Beijing Offices
A more interesting note is that Binance now officially has a subsidiary within China’s borders. Last month, Binance, the Block, and Chinese media collided with each other when the Block pushed out an article about Binance’s Shanghai offices being shut down after a police raid. The problem was that Binance didn’t have a Shanghai office to begin with. With a new subsidiary in Beijing, it’s unclear how the future will be like within China’s anti-crypto borders.
Binance has declined to provide information about the financial terms of the deal. They’re also tight-lipped about the entity that made the acquisition itself. All in all, it’s unclear about what is and isn’t the truth anymore. What this will mean for the future remains to be seen, but for now, Binance has added a vital tool in the Dapp market.