Binance has released a new mechanism to integrate listed and selected unlisted Ethereum tokens into the BNB Smart Chain as BTokens. This will considerably strengthen the concept of blockchain interoperability.

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Release of BTokens

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On Tuesday, Binance launched BTokens, which can be used to explore ecosystems such as DeFi, GameFi, and the metaverse, among others.

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Binance Bridge's earlier version only supported Binance-listed tokens and allowed wrapped tokens to be used on Binance Chain and Binance Smart Chain.

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However, Binance Bridge 2.0 connects more tokens, including those not listed on the Binance exchange. Likewise, these unlisted tokens will be linked to the BNB Smart Chain as wrapped BTokens.

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What’s more, BTokens are tied to the underlying asset on a 1:1 basis and can be exchanged for it at any moment. Also, in this new version, ERC20 tokens can also be wrapped and exchanged for BEP20 BTokens.

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Binance also highlighted that these processes can be carried out directly from your Binance account, eliminating the need to open new wallets or accounts on third-party apps. 

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Furthermore, you would be able to access the listed tokens using your Spot or Funding Wallet on Binance, whereas unlisted tokens would need to be stored in a "self-custody wallet" (SCW) on the Binance App.

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Everything is easily accessible because it is all on the Binance App.

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The Importance of Binance Bridge 2.0

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The new version of Binance Bridge operates on the BNB Smart Chain and is secured by Binance's strongest security protocols. It has cheap fees of a few cents and a transaction time of only 3 seconds.

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Furthermore, you will have easy access to the world of DeFi on the BNB Smart Chain. 

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This bridge will also provide users with access to BNB Smart Chain dApps like PancakeSwap, as well as support for a variety of Ethereum-native tokens.

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