Crypto giant
Binance acquired Trust Wallet two years ago today. In that short space
of time, the service has managed to amount 5 million users, and it is
now expanding into the burgeoning DeFi sector.


In
addition to the five million user milestone, Trust Wallet claims that
10% of this rapidly acquired user base is now accessing a wide range of
DApps and DeFi platforms. It plans to aggressively expand into the
sector as crypto investors seek liquidity farming earning opportunities.


Delving into DeFi



In
a move to keep pace with the rapidly expanding DeFi ecosystem, Trust
Wallet has integrated token swap platforms such as Kyber as well as its
own decentralized exchange, BinanceDEX. 


The Android
version of the wallet has a built-in dapp browser which gives full
access into the DeFi world and a number of popular protocols including
Aave, which has recently revamped its tokenomics,
and Compound. It also uses an open protocol called Wallet Connect which
links DApps to mobile wallets using end-to-end encryption by scanning
QR codes.


Trust Wallet founder Viktor Radchenko told
Cointelegraph that there are plans to integrate a number of DeFi
protocols on both the Trust Wallet iOS and Android apps to increase
liquidity and provide access to liquidity pooling and lending protocols.
He added that having the protocols integrated natively will make it
more secure and intuitive for users.


Keeping it simple



Speaking
on the explosive growth of the DeFi sector Radchenko said, “DeFi is
definitely booming right now. You can see good progress in the
development of the new protocols that give more access for developers to
build more financial applications on top of it. This also is a good
time for decentralized protocols to build a governance process for
building community-driven protocols.”


With regards to
increasing the user base, he added that "keeping it simple" is the key.
Adding DApp functionality that fulfills most of the cases for crypto
users for the next few years is also a priority going forward, he
stated.