Binance Bridge Relaunches now accepts unlisted tokens

Binance's cross-chain technology has been improved and relaunched, allowing links between its BNB Smart Chain and other blockchains.


Binance Bridge 2.0 now supports several tokens that aren't even listed on Binance's market, in addition to new functionality and a facelift.
Binance

Previously, the Binance Bridge could only support coins that were listed on Binance.com. Binance Bridge 2.0 now supports several tokens that aren't even listed on Binance's market, in addition to new functionality and a facelift.


The bridge, according to the statement, allows these unlisted tokens to be packaged as BTokens on the BNB Smart Chain, which are linked 1:1 to the underlying asset and may be redeemed back to the original asset at any moment.


The announcement read,


“Binance Bridge 2.0 introduces a new way to bridge listed and selected unlisted tokens from Ethereum to BNB Smart Chain as BTokens.”

Users can, for example, wrap their ERC20 tokens to receive BEP20 BTokens, which they can subsequently stake on the BNB Smart Chain using DeFi protocols.


Almost all Ethereum-native currencies will be accessible on Binance Bridge 2.0, allowing direct access to BNB Smart Chain dApps like PancakeSwap, which is now the market leader.


The option for customers to accomplish this straight from their Binance account is highlighted as the most crucial update in the statement. Users can keep their listed tokens directly in their Funding or Spot Wallets, eliminating the need for third-party wallets.


A new self-custody wallet (SCW) for unlisted bridged tokens will be available through the Binance app, which will also guide new users through the procedure.


The biggest benefit of having one's own SCW, according to the statement, is having exclusive access to one's private keys.