ICYMI: Binance releases Binance Bridge 2.0 that connects the BNB Chain, its flagship Layer 1 blockchain, with other networks BNB $BNB
while enhancing interoperability between different blockchains. Through the Binance app, users will be able to access both traditional centralized finance and decentralized finance via the bridge.
The blockchain bridge, repurposed from the previous one, introduces a new mechanism to bridge listed and selected unlisted tokens from Ethereum to BNB Smart Chain as BTokens. Wrapped tokens can be used with the BNB Chain ecosystem to explore DeFi, blockchain games, Metaverse and more. In February, Binance changed the name of its Layer 1 network to BNB Chain as part of its ambition to become a major blockchain infrastructure provider. The bridge is a crucial part of this effort since it allows users and developers to integrate other tokens into Binance's ecosystem., Binance stated it was preparing to go on a shopping spree for non-crypto businesses, according to a report first published by The Financial Times.
The awarding of the Virtual Asset Licence from Dubai's recently formed Virtual Asset Regulatory Authority comes after Gulf neighbor Bahrain awarded Binance a crypto-asset service provider license, its first such license from a Gulf Cooperation Council country.
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