Binance has rebranded and relaunched its Web3 wallet service with new and enhanced features to improve user experience.
The newly upgraded wallet, now called “Binance Wallet”, was previously called the “Binance Web3 Wallet.” It offers a unified interface for managing assets across multiple networks and supports seamless token swaps with competitive rates. The update also includes an enhanced “Airdrop Zone” and “Reward Center” which is expected to simplify access to exclusive rewards and airdrops from Web3 projects.
The relaunch reflects Binance’s broader strategy to bridge the gap between centralized and decentralized platforms, providing users with an intuitive and integrated experience. The exchange described the update as part of its commitment to make Web3 more “accessible and intuitive for everyday users worldwide.”
“The revamped Binance Wallet is designed to accelerate this transition, offering intuitive tools that simplify the decentralized experience, and create a seamless way for everyone to explore and benefit from Web3,”
said Winson Liu, Global Lead of the Binance Wallet team.
The wallet’s rollout will occur in phases. The exchange noted that the early updates are focused on streamlining asset management and improving usability.
Binance also announced a “$5M Airdrop Carnival” event to mark the relaunch. During this event, set to begin on December 10, 2024, the exchange will distribute $5 million worth of token airdrops from prominent Web3 projects. It noted its goal is to onboard one billion users into the Web3 space.
Meanwhile, this wallet relaunch comes as Binance overhauled the reward system of its Peer-to-Peer(P2P) Merchant Program. This exchange announced this update on December 6, 2024, and claimed that the new system was designed to improve trading standards and enhance user experiences.
The new system introduces a three-tier reward level—Bronze, Silver, and Gold, with different perks. Bronze merchants receive a 20% fee refund and dedicated support. Silver merchants get a 30% fee refund, while Gold merchants benefit from a 50% fee refund and exclusive rewards, including a “Gold badge.”
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