The previous day, Binance shared an announcement with the words “The key to onboarding the next billion.” and no other details. Binance’s post was also quoted by CEO Changpeng Zhao as “3”.

While Binance’s announcement was eagerly awaited, the mysterious announcement was decrypted at the Binance Blockchain Week in Istanbul today.

Richard Teng, Head of Regional Markets at Binance, announced the launch of a Web3 wallet.

Users will be in control of the assets in the wallet, which will be available in the Binance app. The wallet will serve as a digital gateway to blockchain-based applications. According to the official statement, it will offer users a secure and seamless way to manage their cryptocurrencies, swap tokens between different chains, earn returns, and interact with various blockchain platforms. Users will be able to create wallets in seconds using the Binance app without having to worry about recovery phrases and private keys.

On the other hand, it was previously thought that Binance’s mysterious post could be related to Trust Wallet. With Binance’s official announcement today, the TWT price dropped from $1.72 to $1.50.