Crypto currency exchange Bithumb Global announced that it supports the Binance Smart Chain project, which aims to bring the DeFi and CeFi sectors together. Bithumb said in a statement that they expect Binance Smart Chain’s interoperability to attract more people to the DeFi space.
Bithumb Global, one of the world’s leading crypto money exchanges and one of the important supporters for the development of the DeFi industry, announced that it supports the Binance Smart Chain project developed by another major exchange. Bithumb Global stated that Binance’s project fits its philosophies with both its efforts in decentralized finance and its various aspects. It was underlined that Binance opened a new horizon in the cryptocurrency industry with the Smart Chain project.
Bithumb emphasized the interoperability aspect of the project the most and underlined the importance of this factor for the development of the DeFi sector. Interoperability can expand the scope of transactions for decentralized finance platforms, according to the statement. In addition to this, digital assets can be easily transferred between various platforms and usage areas.
Why do they support it?
Bithumb’s article published in Global PR Newswire praised Binance Smart Chain and explained why he supported the project. Claiming that the project is technologically unique, Bithumb emphasized that Binance Smart Chain is also important because it will ensure interoperability between blockchains.
Bithumb said in a statement that Binance is trying to build a truly interconnected cryptocurrency world and that Bithumb Global is supporting this project with many users around the world. In the statement, while maintaining the stability and reliability of the central platforms with this project; It was mentioned that the main advantages of decentralized platforms are fed within the framework that they can provide flexibility to innovations.
Bithumb said Binance launched the Panama Project as part of the Token Canal project to enable cross-communication between blockchains. In the article, Bithumb explained that this initiative will not only increase the performance of Binance Coin (BNB) and Binance Chain, but the productivity of all platforms included in the blockchain.