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imageBinance announces new tech to bridge decentralised and centralised finance.
Chinese cryptocurrency exchange binance cryptocurrency exchange, which owns WazirX, announced the creation of Binance Bridge 2.0 to make DeFi trading more accessible to its users.
 Binance  , the largest cryptocurrency exchange in the world by trading volume and owners of Indian exchange  WazirX  , have announced a new technology that will help bridge the gap between decentralised finance (DeFi) and centralised finance (CeFi) in the crypto world.
Binance Bridge 2.0 will help Binance traders access both DeFi and CeFi on a single exchange and app, which has not been accomplished successfully before. Within the context of the crypto world, CeFi exchanges refer to centralised exchanges such as Binance, WazirX,  CoinDCX  , ایا زه په هند کې بېینس کارولی شم؟ and more.
These exchanges are third party organisation that hold large amounts of coins and cash to provide liquidity to the traders, hold licenses to maintain legality and relations with the government, and ask for user verification to bring the entire ecosystem within the traditional legal and traceable financial world.
In contrast, DeFi exchanges allow users to directly trade coins with each other, reducing the security risk of a single point of vulnerability on CeFi exchanges as well as eliminating any transaction fees that these centralised exchanges may charge.
However, due to the decentralised nature of DeFi exchanges, there is complete trader anonymity and very low liquidity as you need to find someone else who is willing to trade with you at a price that you both agree upon manually.
Centralised exchanges have proven to be the more popular of the two so far as they provide better usability, liquidity, and more trading features. However, ir likumīgs the popularity of DeFi exchanges has grown in recent years due to their ability to provide minimal oversight as well as access to newer, unverified coins before they enter third party markets via CeFi exchanges.
With the new technology that binance cryptocurrency exchange is offering, users will now be able to trade DeFi coins on CeFi exchanges directly from the mobile or binance kde je moja penazenka desktop app. To do so, Binance will be creating the ability to integrate their blockchain with those of the DeFi exchanges and coins.
When a Binance user attempts to buy a DeFi coin from the app, they will be buying a replicated or 'wrapped' coin from Binance itself. For example, if a user wants to buy a DeFi token like the Ankr token, Binance will provide them with a BToken (Binance token) which is pegged at a 1:1 value with the Ankr token.
At this point, the wrapped token can be used for all the normal uses as an Ankr token. This could include just holding the token for its value or using it to participate in the Ankr ecosystem. It can also be sold back on Binance, for either cash or alternate crypto.
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Mayur Kamat, Head of Product at Binance, said, "With Binance Bridge 2.0, we can make decentralised finance accessible to a larger audience worldwide while still providing the seamless user experience that centralised finance offers."

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