Binance on Wednesday, October 22 announced that it has onboarded Polymarket on its BNB Smart Chain (BSC). This move will allow the holders of the BNB Coin to deposit it on the BSC and start trading on active markets on a global scale.
Announcing the development, Binance said, BNB Coin holders will no longer need to exit the on-chain ecosystem to participate in Polymarket trading and voting.
“With this integration of deposit function, BNB Chain users gain direct access to Polymarket’s diverse markets and liquidity, participating in onchain forecasting without leaving the BNB ecosystem,” the blog post by Binance said.
For Binance, the move is intended to bring more real-world utility to its overall ecosystem.
“Deposit on BSC, trade on Polymarket. Behind the scenes, liquidity flows securely between ecosystems – so funds appear directly in Polymarket’s trading interface, ready for participation in any market,” the exchange explained.
Polymarket and BNB Chain have spotlighted two new BNB-themed markets to have BNB Coin holders participate in these price-based forecasts.
For Polymarket, this development has expanded its integration into the crypto market.
Earlier this month, for instance, Polymarket added support for the direct Bitcoin deposits to enhance liquidity for users.