Leading cryptocurrency exchange Binance has released its decentralized exchange (DEX). Unlike the company’s flagship exchange, which is centralized, Binance DEX does not interact with a centralized party. Instead, Binance DEX allows cryptocurrency traders to manage their own private keys. Announced on Tuesday ahead of schedule, the decentralized exchange will run on Binance’s native blockchain, Binance Chain.

CEO Changpeng “CZ” Zhao says the new exchange fulfills the company’s mission of building a decentralized future and an open global financial system powered by cryptocurrencies and blockchain technology.

Says Zhao,

“With no central custody of funds, Binance DEX offers far more control over your own assets. We hope this brings a new level of freedom to our community. We will work closely with projects and teams to grow the entire ecosystem.”

With the Binance Chain mainnet launch, Binance Coin (BNB), the seventh largest cryptocurrency by market cap, has become the native asset on Binance Chain, moving from the Ethereum blockchain. In a massive token swap on Tuesday, five million ERC20 BNB were burned as part of the conversion process.

BNB is used for network transactions. During the Binance DEX testnet phase, nearly 8.5 million transactions were made across a simulated trading competition, coding competition and bug bounty program.

Initial list of supported wallets

Trust Wallet

Ledger

Enjin

Magnum Wallet

CoolWallet

Coinomi Wallet

Atomic Wallet

ZelCore Wallet

Infinito Wallet

Math Wallet

Ellipal Wallet

Guarda Wallet

Exodus

With the public launch of Binance DEX, users can now create accounts, access web wallets and the blockchain explorer, but an actual trading date has yet be specified. According to the announcement,

“Users now have access to the Binance Chain Explorer, web wallet, public data nodes and APIs, and trading will begin at a later date.”