Introducing Binance Bridge 2.0
Binance Bridge 2.0 introduces a new way to bridge listed and selected unlisted tokens from Ethereum to BNB Smart Chain as BTokens. You can use your wrapped tokens with the BNB Chain ecosystem and explore DeFi, blockchain games, metaverse, and more.
We repurposed the previously decommissioned Binance Bridge, added new features, and gave it a new look to make bridging between Ethereum and BNB Smart Chain easier than ever before. The original Binance Bridge supported only tokens listed on Binance.com, but with Binance Bridge 2.0, you can look forward to bridging even more tokens, including some of the tokens not listed on our exchange. These unlisted tokens will be bridged to BNB Smart Chain as wrapped BTokens and enable you to experience the decentralized BNB Chain ecosystem.
The most important update is that you will be able to do all of this directly from your Binance account without creating third-party wallets. The listed tokens will end up directly in your Funding or Spot Wallet, while you can store the unlisted bridged tokens in a new self-custody wallet (SCW) within the Binance App. If you don’t have your SCW yet, Binance App will guide you through the process. The main advantage of having your own SCW is that only you will hold the private keys.
With Binance Bridge 2.0, you can wrap ERC20 tokens to receive BEP20 BTokens and immediately start staking your Ethereum or other supported assets with DeFi protocols running on the BNB Smart Chain. No more swaps, high fees, or long wait times for your transaction to complete. BTokens are pegged on a 1:1 basis to the underlying asset. You can redeem your BTokens back to the original asset at any time.
Binance Bridge 2.0 is a trusted bridge protected by the highest security standards of Binance, operating on the BNB Smart Chain with low fees of only a few cents and fast transaction times of just 3 seconds. Binance Bridge 2.0 will support almost all Ethereum-native tokens and give you direct access to BNB Smart Chain dApps such as the most-used dApp globally – PancakeSwap. Support for more blockchains and dApps is coming in the future.
This cross-chain bridge significantly improves interoperability between different blockchains and gives you direct access to the world of DeFi on the BNB Smart Chain.