Crypto exchange Binance on Tuesday announced the acquisition of DappReview, an analytics platform for decentralized applications (DApps).
Founded in February 2018, DappReview scans and provides information of 3,900 DApps across 13 blockchains and has over 300,000 monthly active users across 120 countries, the crypto exchange detailed in the announcement.
Commenting on the acquisition, Wei Zhou, Binance’s CFO, 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.”
“This acquisition marks a significant step into the DApps ecosystem, and we will have more exciting developments in the near future.”
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Jumping into DApps
With the recent 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.
Despite the 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, said.
“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.”
Last month, the Malta-registered exchange acquired WazirX, an Indian digital asset exchange platform, to expand its base in the Asian markets.