The world's largest crypto exchange by trading volume, Binance, announced on November 19, that it has integrated Arbitrum One, an Ethereum Layer-2 network developed by Offchain Labs.
According to reports, the integration works for Ethereum native token Ether (ETH) deposits. This means that Binance users can now directly deposit their funds on Binance via Arbitrum One without using the Arbitrum bridge.
Speaking of the integration, Binance announced it has assigned users ETH deposit addresses on the Arbitrum One network, adding that Arbitrum One is live on mainnet but is still in a beta phase.
Moreover, the exchange notes that it will also allow withdrawals on Arbitrum at a later date without specifying a timeline. So, once the option is permitted, Binance users could withdraw their funds on Arbitrum easily.
Note that Arbitrum helps reduce transaction costs using Optimistic rollups technology. Not to mention that Rollups enables executing Ethereum transactions off-chain, reducing the network congestion and increasing its speed, and reducing gas fees.