Binance Launches DeFi Wallet and PancakeSwap Mini on its Mobile Platform

Together with adding PancakeSwap mini on the Binance app, the exchange has also launched its own DeFi wallet, with more dApps waiting to be implemented in the future.

According to the official blog post, PancakeSwap Mini will be available to all users of the Binance app and could be the first stop for new investors who are not familiar with decentralized finance applications.

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The integration of the DeFi wallet is said to alleviate any difficulties surrounding any operations with transferring funds due to its simplicity and straightforward design so users can easily switch around between several dApps.

With PancakeSwap being the most recognized decentralized exchange (DEX), its Mini application on mobile will help new users explore its services like staking, liquidity pools, and swapping various assets.

The current Head Chef at PancakeSwap Chef Snowball spoke on its application being brought in by Binance, stating:

"As the first DeFi project to launch a Mini Program, we have been working closely with Binance in the past few months. As we unveil more features and activities, we will also work together to improve the user experience of our DeFi products, said Chef Snowball, Head Chef at PancakeSwap."

The new DeFi experience brought in by Binance, according to the exchange’s Head of Product Mayur Kamat, is an "important strategy for Binance’s development." According to him, the Binance Mini App will hold even more dApps in the future, giving users a "smooth Ce-DeFi experience."

The news came in right after another crypto exchange KuCoin announced its strategic investment in MojitoSwap to help accelerate its progress on the KCC chain.