Popular crypto-exchange Binance shot to prominence within no time, with the exchange today enjoying its status as one of the market’s most trusted exchanges, despite the fact that it is centralized. In fact, Binance has been avidly looking out for demand in the market, following which, it has over the past few months launched an assortment of products catering to every demand.
In yet another example of Binance’s efforts to cater to a diversified audience, the exchange launched the Panama project on 30 September to help Binance Smart Chain and Binance Chain with faster, cross-chain bridging services.
While the introduction of the service brought Binance USD [BUSD], Tether [USDT], and Ethereum [ETH] to the Binance Chain ecosystem, the project took another step towards expanding this list today. On 10 October, the Binance Chain Panama service announced the addition of pegged tokens like Chainlink [LINK], Bitcoin Cash [BCH], Ontology [ONT], Litecoin [LTC], and Cosmos [ATOM].
The peg-in process allows users to swap the native tokens to the equivalent of pegged tokens on the Binance chain or Binance Smart Chain, while its peg-out procedure allows them to swap the equivalent of the pegged token on the aforementioned chains to the native tokens. This product claims to help the exchange provide inter-blockchain liquidity for Binance Chain, Binance Smart Chain, and its decentralized