The Ronin crypto wallet mobile app integrated Binance Pay to its interface, enabling users to directly import funds from Binance exchange accounts to their wallets.
What Happened: Ronin is one of the first few wallets using this new technology, after Binance Web3 Wallet and Trust Wallet. This feature allows users to automatically convert cryptocurrencies like Bitcoin and Ethereum into Ronin ecosystem tokens like AXS and SLP from Axie Infinity. Ronin is an Ethereum sidechain network built for crypto games.
The Ronin wallet browser extension on Chrome in the U.S. is tested immediately, and it shows Ramp or Ronin’s blockchain bridge as options to deposit funds.
Also Read: Binance Tips Off 'VIP' Traders About $4B Settlement With The US Government: Report
Why It Matters: Ronin, launched in 2021, reported a surge in its November activity, and its active user numbers tripled.
Binance exchange does not currently list Ronin’s main token, RON, and thus users will have to buy it on a decentralized exchange, DEX. SLP and AXS are listed on the Binance exchange for users in some countries.
Meanwhile, Binance founder Changpeng Zhao pleaded guilty to money laundering charges and stepped down from his role as CEO.
Richard Teng is currently Binance CEO.
For now, Binance isn't available for U.S. consumers. Thus, Ronin’s Binance Pay integration comes mainly for mobile users’ benefit outside the U.S.
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