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Crypto exchange Binance seeks to boost dapps ecosystem with its fourth acquisition

Image: Binance

Tue, 03 Dec 2019, 10:04 am UTC

Cryptocurrency exchange Binance has acquired decentralized applications (dapps) platform DappReview. The terms of the deal have not been disclosed.

Founded in 2018, DappReview is a leading information and analytics platform for blockchain-based dapps. It provides data analytics, user insights and dapp information for over 3,900 dapps across 13 public blockchains, including TRON and Ethereum. With over 300,000 monthly active users across 120 countries, DappReview also serves as a platform for blockchain developers to introduce their dapps to global users.

“DappReview provides TRON’s community developers with most up-to-date insights on how their DApps are performing against other DApps on TRON as well as other blockchains,” TRON Founder Justin Sun said adding that Vincent and his team frequently share industry insights and offer analytical guidance on latest industry trends.

This marks Binance’s third acquisition this year and follows after the acquisition of the Seychelles-based crypto trading platform JEX in September and Indian crypto exchange WazirX in November. Last year, the exchange had acquired Trust Wallet.

In its press release, Binance said that it will support DappReview to further develop the dapps ecosystem and foster greater blockchain adoption.

Calling this acquisition as a “significant step” into the dapps ecosystem, Binance CFO Wei Zhou said:

“On-chain applications are still the missing piece for mass blockchain adoption. The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications.”

Following the acquisition, DappReview will maintain its independence in technical development and operation with Binance offering support in non-technical fields such as marketing and business development. DappReview plans to release a new suite of products in the first quarter of 2020.

Vincent Niu, Founder and CEO of DappReview, said that the firm not only provides dapps analytics services, but also full packages of support for dapps developers from fund-raising, product development to marketing and promotion.

“Binance’s acquisition will empower DappReview with more resources to accelerate our business growth. Our next step is to partner with more blockchain protocols and developers on dapp data integration, and push for dapps adoption on a greater scale,” Niu added.

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