Crypto exchange Binance has acquired DappReview, an evaluation platform that offers data-driven research and advertising services to blockchain-based decentralized applications (dapps). The acquisition amount is undisclosed.
Founded in February 2018, DappReview scans and provides information of 3,900 DApps across thirteen blockchains and has over 300,000 monthly active users across 120 countries.
According to Binance’s Trust Wallet founder Viktor Radchenko, this acquisition will help them “further develop existing DApps and create new use-cases for blockchain technology.” Trust Wallet will integrate the DAppReview APIs to provide easy access to insights regarding DeFi services, analytics, and usage.
With the acquisition, Binance, which is one of the largest crypto exchanges in terms of trading volume, is planning to dive into the emerging sector of DApps and push for greater blockchain adoption. After this acquisition, DappReview will maintain its independence in technical development and operation and will receive support from the exchange in non-technical fields including marketing and business development.
“The mission of DappReview is to build a vibrant DApps ecosystem and boost mass adoption of blockchain. Apart from DApps analytics services, we also provide full packages of support for DApps developers from fund-raising, product development to marketing and promotion,” – Vincent Niu, founder and CEO of DappReview.
DappReview had raised a Series A round worth CNY 5 million in June.