CEO of Brave Software, Branden Eich explained the rationale behind this partnership:
“Our focus has always been on our users. This time, it’s about making crypto more usable by more people. We already have 1.6 million users who are crypto-savvy, they have signed up for the BAT Rewards Program; now they’ll be able to make crypto trades without leaving the browser”.
The Binance Widget will appear on Brave Nightly’s new tab. Nightly is a “testing and development” version of Brave that gets updated every night.
The Binance Widget allows Brave users to make crypto trades without leaving the browser. The Binance Widget will become available on the main version of the browser sometime in April. Users will be able to sign into the widget with their preexisting Binance account.
We're thrilled to partner with @binance to bring cryptocurrency trading directly into the browser. The new Binance widget makes Brave the only browser that offers integrated functionality for buying/trading cryptocurrency (in Nightly version today).https://t.co/mGqUfyZx6Y — Brave Software (@brave) March 24, 2020
According to Eich, the widget is mostly focused on trading and may be missing some of the more advanced features of Binance. But all the trading pairs available on the localized version of Binance will be available through the widget.
Brave’s press release highlighted:
“Additionally, the Binance widget is built into Brave and is not a loaded iframe (remotely embedded document), which preserves the user’s privacy. API calls will only be made into Binance if the user authenticates via OAuth and interacts with the widget.”
The configuration means that Brave does need to worry about Know Your Customer or Anti-Money Laundering compliance, relying instead on the partner exchange.
Binance CEO Changpeng Zhao (‘CZ’) stated:
“The Binance widget on Brave’s privacy-oriented browser instills a safer way to buy and sell crypto and also reduces user friction to onboard, trade and interact with the Binance ecosystem. We are looking forward to our long-term partnership with Brave to make it even easier to interact with crypto and encourage more utility in the near future.”
If Binance can capitalize on Brave’s vast userbase, this would lead to the influx of new liquidity to battered crypto markets.