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CoolBitX, a Taiwan-based crypto hardware wallet maker, has announced integration with Binance Chain, a blockchain software system developed by Binance and the community, and its upcoming Binance DEX.
Earlier this month, Binance launched Binance Chain mainnet, which was followed by the launch of Binance DEX on Binance Chain.
With this integration, Binance DEX users would be able to transfer digital assets to and from CoolBitX’s latest hybrid hardware wallet, CoolWallet S (CWS) – a credit card-sized hardware wallet for Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Horizen, and ERC20 Tokens. CWS users, on the other hand, would be able to quickly and securely withdraw and exchange digital assets through the decentralized exchange.
“Binance is the world’s leading digital asset exchange, and we are excited to see their role in the development of Binance DEX. This integration is highly significant for CoolWallet S holders as they will be able to seamlessly and securely transfer crypto on and off the exchange,” CEO of CoolBitX, Michael Ou said.
CoolBitX said that decentralized exchanges provide a different balance of security, freedom, and ease-of-use, so that users can have more responsibility and control over their assets.
With no central custody of funds, Binance DEX offers users full control over their assets and private keys, complementing the security provided by a hardware wallet. Desktop browsers can be used to initiate trades, but the CWS is utilized to sign each transaction - minimizing security risks to end users of the exchange, the release said.
“The launch of Binance DEX will help to grow the ecosystem and further the adoption of cryptocurrency. We thank CoolBitX for their support and we are excited to offer more freedom of choice to the Binance DEX community,” CEO of Binance, Changpeng Zhao said.
