BNB Chain has officially launched its cross-chain bridge, partnering with three leading cross-chain technology providers: Celer, deBridge, and Stargate. This strategic move aims to enhance cross-chain interoperability and liquidity within the BNB Chain ecosystem, making it a more attractive destination for decentralized finance (DeFi) projects.
The BNB Chain Bridge integrates with Celer's state channel-based network, deBridge's interoperability framework, and Stargate's cross-chain liquidity solution. This collaboration is set to provide users with real-time cross-chain transfers, guaranteed rates, and access to institutional liquidity, according to a statement shared with The Block.
Alex Smirnov, co-founder of deBridge, expressed enthusiasm about the partnership, stating, "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. We can't wait to cement BNB Chain as part of a single unified DeFi market."
Angus Lamps, Stargate Foundation Lead, echoed this sentiment, highlighting BNB Chain's significant role in the origins of Stargate and its consistent popularity within the bridge's ecosystem.
The BNB Chain Bridge is designed to support a variety of blockchains and Layer 2 networks, including Ethereum, Arbitrum, Base, Polygon, Avalanche, Blast, and Linea. This initiative is expected to simplify and streamline the bridging experience for users, offering competitive rates compared to centralized exchanges or third-party decentralized solutions.
As part of the launch, BNB Chain is also establishing a liquidity pool to facilitate transfers from other chains, contributing to its broader initiative to expand its stablecoin ecosystem.
This launch follows BNB Chain's March unveiling of a rollup-as-a-service solution, aimed at enabling the growth of custom Layer 2 networks within its ecosystem. Despite recent market corrections, BNB Chain's native cryptocurrency, BNB, reached a new all-time high of over $700 in June, though it has since settled around $540, according to The Block’s BNB Price Page.
With the introduction of this cross-chain bridge, BNB Chain is poised to solidify its position as a leading player in the DeFi space, offering users and developers enhanced interoperability and access to a broader range of blockchain networks.
