BNB Chain launches official cross-chain bridge with Celer, deBridge and Stargate
Quick Take
- BNB Chain has launched the BNB Chain Bridge in collaboration with Celer, deBridge and Stargate.
- The bridge aims to boost cross-chain interoperability, liquidity and user experience on BNB Chain.
BNB Chain launched its official bridge in collaboration with three cross-chain technology providers: Celer, deBridge and Stargate.
The bridge is designed to improve cross-chain interoperability and liquidity in the BNB Chain ecosystem and attract more DeFi projects to the network, according to a statement shared with The Block.
"Having supported BNB Chain since day one of deBridge, it's a tremendous honor to be selected as a canonical bridge provider for the official BNB Chain bridge aggregator,” deBridge co-founder Alex Smirnov said. “We can't wait to cement BNB Chain as part of a single unified DeFi market through real-time cross-chain transfers, guaranteed rates, and institutional liquidity."
More specifically, BNB Chain Bridge integrates with Celer's state channel-based cross-chain network, deBridge's interoperability framework and Stargate's cross-chain liquidity solution.
“We're very excited to be part of the canonical BNB Chain bridge. BNB Chain played a huge role in the origins of Stargate, and has consistently been one of the most popular ecosystems on the bridge,” Stargate Foundation Lead Angus Lamps added.
Connecting to other ecosystems
The bridge is supporting a range of blockchains and Layer 2 networks including Ethereum, Arbitrum, Base, Polygon, Avalanche, Blast and Linea.
BNB Chain Bridge aims to provide a simpler and more efficient bridging experience for users with competitive rates compared to using centralized exchanges or third-party decentralized solutions.
BNB Chain is also creating a liquidity pool to streamline transfers from other chains as part of the launch and a broader initiative to grow its stablecoin ecosystem.
In March, BNB Chain unveiled a rollup-as-a-service solution to enable the expansion of custom Layer 2 networks in its ecosystem.
In June, BNB Chain’s native cryptocurrency, BNB, broke above the $700 mark to reach a new all-time high — one of only a few major cryptocurrencies to do so this year. However, it has since fallen back alongside a broader crypto market correction in recent months, currently trading for around $540, according to The Block’s BNB Price Page.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
