According to a report by CoinDesk, the deal enables Binance to establish a wholly-owned subsidiary in Beijing, which is where DappReview is based.
Under the agreement, Binance will also support the DApp analytics platform in various business aspects as it continues work on technical development and operations, which includes releasing a new range of offerings in 2020.
The exchange will also take advantage of the acquisition to boost efforts in the development and improvement of DApps and blockchain use cases.
Viktor Radchenko, founder at Binance’s Trust Wallet, noted that DappReview will help the cryptocurrency wallet gain insight on new DApps, crypto games, and decentralized finance applications.
Additionally, the agreement will involve DappReview working with Binance X, Binance Launchpad, and other public chains and protocols in Binance’s ecosystem to scout DApp developers and promote DApp projects, according to DappReview founder Vincent Niu.
DappReview currently monitors some of the major blockchain platforms in the industry: Ethereum, EOS, TRON, IOST, Loom Network, Steem, Tomochain, Onthology, NEO, Waves, WaykiChain, and Nebulas.