The native token of Trust Wallet, TWT, surged sharply to its highest level since January after the team behind the self-custody crypto wallet revealed a new product roadmap, and plans to expand the token’s utility.

In a Thursday blog post, Trust Wallet — a noncustodial wallet acquired by Binance in 2018 — released its TWT tokenomics “litepaper” describing how the token will be used across the wallet's new product features, including trading, payments and earn products. The post states that new utility benefits for TWT holders will be rolled out in phases over the next six months.

Following the announcement, TWT price jumped 38% to $1.23, a level last seen in January, per data from CoinGecko.

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