Binance Acquires Decentralized Application Platform, DappReview

Binance recently announced the acquisition of Decentralized Application Platform DappReview. The financial terms of the acquisition were not disclosed.

Founded in 2018, DappReview is a DApp ranking evaluation platform. The company raised Series A funding of CN¥5,000,000 in May 2018.

DappReview is yet another acquisition after the buyout of Indian Cryptocurrency exchange WazirX by Binance.

Executive Opinion

Binance CFO Wei Zhou, "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."

Founder and CEO of DappReview, Vincent Niu, said, "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. 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."

Binance and DappReview

The announcement noted that DappReview provides data analytics, user insights, and dapp information for over 3,900 dapps across thirteen public blockchains. The acquisition aims to promote Decentralised Applications (Dapps) ecosystems and accelerate blockchain adoption.

In another such development, Binance also recently revealed its partnership with the crypto travel startup, TravelByBit and launched a cryptocurrency backed travel reward card.

DappReview will continue to execute its independent technical development and operation. Binance will support non-technical functions like marketing and business development.

DappReview will release a new suite of products in Q1 of 2020, notes the announcement.