Binance Acquires Service Tracking Ethereum, EOS & Other Blockchains' DApps 14

Binance Acquires Service Tracking Ethereum, EOS & Other Blockchains’ DApps

Binance Picks Up Ethereum, EOS, Tron, etc. dApp Analytics Firm

According to an announcement published to Binance’s official blog on Tuesday morning, the company has formally acquired DappReview, “the world’s leading information and analytics platform for blockchain-based decentralized applications (dapps).” The sum of the deal was not disclosed, though the platform had over 300,000 monthly active users in over 100 countries.

DappReview currently provides “data analytics, user insights, and dapp information for over 3,900 dapps across thirteen public blockchains,” including Ethereum, EOS, and Tron, three of the largest blockchains that operate decentralized applications at the moment.

Binance’s CFO Wei Zhou announced his excitement for the move, noting that “On-chain applications are still the missing piece for mass blockchain adoption,” before adding that the team behind the exchange has “shown its commitment to dapps and strong execution in building a leading global dapps platform.”

Notably, DappReview, which is currently based in Beijing, will maintain its independence “in technical development and operation” despite the move, with its new owner only offering to support in “non-technical fields including marketing and business development.”

CoinDesk reports that DappReview’s APIs are likely to be integrated into the Binance-owned Trust Wallet, a cryptocurrency wallet application focused on providing service for dapp users of Ethereum, in the future to “provide easy access to explore new dapps and crypto games, as well as more insight into DeFi.”

Not First Acquisition; Unlikely to Be the Last

While this is Binance’s first foray into the dApp statistics game, this is far from its first acquisition of a cryptocurrency business. The Block’s Larry Cermak recently noted that this is the company’s fourth acquisition since July 2018, the first three being the move to purchase Trust Wallet in July 2018, JEX in September 2019, and WazirX just last month.

Trust Wallet, as aforementioned, is focused on providing a smart wallet service for cryptocurrency users; JEX is a cryptocurrency futures platform to boost its derivatives offerings; and WazirX is a cryptocurrency trading platform available in India that gives its users a place to purchase, sell, and trade Bitcoin, for instance.

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