The Qredo Team is delighted to announce that BNB Chain is the latest Layer 1 protocol to be integrated with Qredo Network.
Qredo users can now trade, transfer, and take custody of BNB (BEP20) and BUSD (BEP20) on Qredo Network with institutional-grade governance and security.
Note: other assets on BNB Chain are not yet supported
"From gaming to DeFi, BNB chain is home to many popular dApps. The integration is another key step forward on the Qredo roadmap. It enables custody of $BNB and $BUSD, and — with the addition of trading functionality through PowerSwap — will soon enable smooth interoperability and bridging from BNB Chain to Ethereum, Bitcoin, and others."
— Josh Goodbody, COO Qredo
BNB Chain, which is named after Binance's “Build ’N Build" slogan, was formerly known as Binance Smart Chain.
The blockchain is built for speed and scalability, and is the home of Binance's MetaFi concept. This is a combination of Meta, for metadata, and Fi, for decentralized finance. It aims to create the infrastructure needed to power both virtual economies and the real world.
The integration of Layer 1 chains into the Qredo Network seeks to solve two of the biggest challenges facing crypto: scalability and interoperability.
Qredo’s Layer 2 solution helps Layer 1 blockchains to scale by processing transactions away from the underlying chain, without compromising on security and decentralization.
With each integration, users of that blockchain are able to store assets efficiently on Qredo Network and – from their Qredo Wallet – seamlessly swap assets across other supported chains using atomic swaps.