Binance Custody has announced its plans to integrate with one of the biggest DeFi players in the market. Now, institutional investors will be able to keep their wallets safe with Binance Custody.
Binance Custody adds this altcoin to its institutional custody solutions
Binance Custody, an enterprise-grade cryptocurrency custody solution, announced its integration with the NEAR Protocol (NEAR). Institutional investors can now safely store their NEAR balances on Binance Custody. The exchange also said it will support other NEP-141 compliant tokens along with NEAR. Thus, once the integration is complete, Binance’s enterprise custody solutions will also include NEAR-based tokens.
NEP-141 is a standard that specifies how NEAR-based tokens should be stolen. It makes it easier for users and developers to understand. However, it provides more cost-effective and more efficient operations. NEP-141 differs from its predecessor, NEP-21, with a number of features. Binance Custody, which has been providing institutional custody solutions since December 2021, currently provides security to more than 230 cryptocurrencies with NEAR. Meanwhile, the leading exchange announced support for the following cryptocurrencies last February:
- Shiba Inu (SHIB)
- Audius (AUDIO)
- Perpetual Protocol (PERP)
- SKALE Network (SKL)
- Injective (INJ)
NEAR wallet users exceed 20 million
The number of people using Near Protocol’s wallet continues to increase rapidly. This is one of the biggest proofs that the project is growing despite the crypto winter. Earlier this year, only 2 million people were using NEAR Wallet. But that figure had grown to more than 20 million users by November, marking the wallet’s tenfold growth in less than a year. Using a proof-of-stake consensus to secure and verify blockchain transactions, NEAR currently hosts more than 800 projects.
cryptocoin.com We have reviewed the NEAR Protocol in all its aspects in this article.
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