As a decentralized wallet launched by a leading exchange, Binance Web3 Wallet aims to connect CeFi and DeFi, and provide users with convenient functions such as multi-chain asset management, DApp aggregation, and linkage with Binance accounts. It uses MPC technology to achieve mnemonic-free management, taking into account both security and ease of use, supports more than 35 chains and cross-chain bridging, and deeply integrates the BNB ecosystem. However, in the early days, it caused controversy due to interface freezes, language switching issues, mandatory KYC binding, and delayed support for new assets, and was questioned as "semi-decentralized." Compared with competitors, OKX wallet leads with comprehensive functions (supporting 100+ chains) and flexible modes, while MetaMask maintains the technical advantages of an independent wallet. Through the wallet strategy, Binance strengthens user retention, expands the closed loop of transactions, and lays out a compliant Web3 entrance. Although the current experience still needs to be optimized, relying on Binance's user base of hundreds of millions, it is expected to become a Web3 traffic hub, and it will need to balance decentralization in the future.