Binance, the largest cryptocurrency exchange as per trading volume, has announced the inclusion of VeChain (VET) alongside eight other digital assets in the first batch of tokens supported on the recently launched Binance Bridge 2.0.
Binance Bridge 2.0 was initiated as a new way to bridge listed and selected tokens from Ethereum to BNB Smart Chain as BTokens. Via the new bridge, users can use their wrapped tokens with the BNB Chain ecosystem and explore decentralized finance (DeFi), blockchain games, metaverse, etc.
Binance Adds VeChain (VET) and Eight Other Tokens
According to the announcement by the exchange, a preliminary batch of nine tokens, including VeChain (VET), has been added.
Based on the report, users can now deposit VeChain (VET), The Sandbox (SAND), ApeCoin (APE), JasmyCoin (JASMY), Decentraland (MANA), ConstitutionDAO (PEOPLE), MovieBloc (MBL), LooksRare (LOOKS), and Dogelon Mars (ELON) on existing supported networks and withdraw the corresponding BEP20 tokens (BTokens).
Furthermore, the exchange added that the supported tokens could also be traded on-chain via decentralized exchanges that support the BEP20 token standard.
Binance further added that:
“Binance Bridge 2.0 supports the bridging of listed assets on Binance.com and some unlisted assets.”
“To deposit unlisted tokens supported by Binance Bridge 2.0, please find your deposit address for a listed token of the same token standard, and deposit to that address. For example, you may use your ERC-20 ETH deposit address for depositing unlisted ERC-20 tokens supported by Binance Bridge 2.0. The deposits will be credited to your funding wallet once the transaction is successful.”
“The support of an asset on Binance Bridge 2.0 provides no indication toward the future possibility of an asset being listed for trading on Binance.com. Assets listed for trading on Binance.com go through a strict and separate listing review process.”