“The team at Equal believes this strategic partnership with Binance will enhance the ability of the Equal Wallet and help increase user base adoption into the future,” Equal explained via Medium.
The collaboration will enable Equal to work on decentralized projects on the Ethereum and Binance networks, as well as help Binance in growing the blockchain ecosystem.
The new agreement will also allow EQL token holders and Equal Wallet users to trade EQL on Binance DEX, gain Binance Coin and Binance Chain token support, experience faster transaction times, complete transactions with cheaper fees, and experience the bridging of decentralized systems.
The migration will involve the Equal Wallet integrating Binance Coin and Binance Chain, letting users hold the new EQL token in BEP-2 format in the Equal Wallet.
EQL token holders can also propose to swap their tokens and migrate them to the BEP-2 protocol.
The Equal Wallet is an Ethereum-based Web3 wallet designed to help users send, store and receive any of the more than 600 ERC20 tokens.