Update: Binance Web3 terms of use state that the wallet is linked to an account on the exchange (where KYC is required) and transactions will be monitored by platform tools for suspicious activity. Binance reserves the right to release this information at the request of law enforcement.

The solution uses MPC technology, breaking the access key into several fragments, part of which is stored on Binance servers. Considering the above, the wallet can be safely called custodial (centralized), while Trust Wallet allows you to store your keys yourself (non-custodial).

Among other interesting points, the wallet is regulated by Hong Kong law.

#Binance