Cryptocurrency exchange Binance has today launch Binance Bridge 2.0 – a tool which will allow users to quickly and securely bridge assets from any blockchain to the BNB Chain.
The move will enable access to CeFi and DeFi products directly within the Binance app, and will be the first cryptocurrency exchange to provide users with a seamless integration of CeFi and DeFi assets.
Binance Bridge 2.0 is the successor to the previously launched Binance Bridge, and has a wider token universe, a better user experience, and lower maintenance costs.
With the upgrade, users can now bridge a variety of unlisted tokens onto the BNB Smart Chain as B-Tokens. Bridged tokens that are listed on Binance will be stored in the Funding or Spot Wallet, while unlisted bridged tokens will be transferred to the Funding Wallet.
When users search for tokens that are not listed on the Binance app but are supported by Binance Bridge 2.0, users can “bridge in” or “bridge out” the tokens between their native blockchains and BNB Smart Chain via normal deposit and withdrawal functions.
“DeFi is driving the creation of cutting-edge use cases for Web3 including NFTs, gaming, metaverse, and MetaFi. With Binance Bridge 2.0, we can make DeFi accessible to a larger audience worldwide, while still providing the seamless user experience that CeFi provides,” said Mayur Kamat, Head of Product at Binance.
“We are already seeing tremendous adoption of the PancakeSwap Miniapp. Binance Bridge 2.0 is a transformative step and I am very excited to see how this makes Web3 accessible to a billion+ users.”