Cryptocurrency exchange Binance has released its latest Web3 wallet that can be used to interact with the decentralized finance (DeFi) ecosystem. Users can now download and access the wallet through its app.

The new product will work across 30 blockchain networks. This was announced at the Binance Blockchain Week conference in Istanbul.

Making an announcement, CEO Changpeng ‘CZ’ Zhao said: “Web3 wallets represent more than just storing digital assets; they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance.”

Binance’s Web3 wallet will compete with the likes of MetaMask and Trust Wallet.

Binance earlier listed a futures market for TrustWallet’s native token (TWT). The TWT price slid after the announcement, taking the 24-hour change to a 7% drop.

Trust Wallet’s Wallet as a Service (WaaS) technology, also announced today is intended to shorten the development time for companies looking to introduce Web3 wallets by offering a range of services including asset management and cross-chain transfers.