Cryptocurrency exchange giant Binance recently announced their acquisition of DApp user insights and market data analytics firm, DAppReview. According to reports, Binance’s Trust Wallet founder, Viktor Radchenko, said that this acquisition will help them “further develop existing DApps and create new use-cases for blockchain technology.”
He also said that Trust Wallet will integrate the DAppReview APIs to provide easy access to insights regarding DeFi services, analytics, and usage. The symbiotic relationship will come full circle as Binance will purportedly offer marketing and business development support to DAppReview in return, maintaining its independence in terms of technical development and operations.
Vincent Niu, Founder and CEO of DappReview said that their mission was to build a DApp ecosystem and boost blockchain adoption, stating that Binance‘s acquisition of the firm will empower them with more resources to accelerate business growth. He also said,
“Our next step is to partner with more blockchain protocols and developers on dapp data integration, and push for dapps adoption on a greater scale.”
In the press release, Binance CFO, Wei Zhou, said that the acquisition marked a significant step into the DApp ecosystem, with more developments to be announced in the future. He added,
“On-chain applications are still the missing piece for mass blockchain adoption. The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications.”
DappReview will be releasing a new line of products during Q1 2020, though they did not mention what those products would be, other than that one would be an analytical tool. Neither Binance nor DAppReview have revealed details around how much the firm was acquired for.
Binance was recently in the news for its acquisition of Indian cryptocurrency exchange, WazirX.