Binance Bridge Relaunches, Now Supports Unlisted Tokens
The cross-chain protocol that enables connections between its BNB smart chain and other blockchain is now upgraded and relaunched by Binance.
Some of the new features have been added. The new version of the Binance bridge now supports some tokens listed on Binance’s exchange which can be said as BTokens.
Since the beginning of the year, Binance smart chain has seen a surge in NFT sales volume, although there was a downfall in NFT’s overall sales volume. Cryptocurrency report says that the chain has gained 1180% in NFT sales volume since January 2022. The total sale volume generated is $94,325, which may be increased by 1109% by the end of February 2022 to $1.14 million
Earlier, Binance bridge only supported tokens that were listened to on the website Binance.com.
But after the makeover, Binance bridge 2.0 now supports some tokens that are not given on Binance’s exchange.
According to the news, the Binance bridge will allow these unlisted tokens on the BNB smart chain, now called BTokens.
Binance bridge 2.0 gives a new way to bridge listed and selected unlisted tokens from ethereum to BNB smart chain as BTokens.
Users can now convert their ERC20 tokens to receive BEP20 BTokens. Approx all the Ethereum native tokens will be supported on Binance Bridge 2.0, allowing direct access to BNB smart chain Apps like the current global leader.
The news allows the user to do this directly from their respective Binance bridge account as the recent update. Users can now store their listed tokens straight to their funding or spot wallet despite using the third-party app or wallet.
For unlisted bridge tokens, a new wallet is launched called SCW or self custody wallet. This app will be available through the Binance app to help new users understand the process. The main advantage for the user is that they have their SCW, which will give them access to their private keys.