Privacy-focused Brave Browser has extended its Ethereum-based digital currency, Basic Attention Token (BAT), to Binance Smart Chain (BSC) ecosystem. The development today means that BAT holders can now access several projects on BSC, including its decentralized finance (DeFi) services.
BAT Debuts on BSC as Wrapped Token
The Brave token was launched as an ERC-20 standard token. However, it can now be used on the BSC ecosystem as a wrapped token, which will make it possible for BAT holders to access BSC projects like PancakeSwap, BakerySwap, Beefy Finance, etc., through “numerous bridges that connect Ethereum and Binance Smart Chain.”
Also, Brave intends to preconfigure support for BSC on its browser wallet later this year to enable users to directly access the BSC services without having to download additional applications. In addition to that, Brave also plans to leverage the low transaction fee on the BSC network to enable scalable P2P tipping within its browser.
Our hope is that BAT and Brave will take crypto mainstream and to make DeFi user-friendly for the mass market. […] With wrapped BAT now available on BSC, we believe this is achievable.
Brendan Eich, CEO and co-founder of Brave
Brave now adds to the list of popular Ethereum platforms that have migrated to the BSC network for some reasons that include cheaper transaction fees.
BAT Monthly Users Surpass $3 Million
BAT is one cryptocurrency with fast-growing demand. It’s the utility token of Brave Browser, which sees over 25 million monthly active users (MAU). More than 3.8 million users transact with the cryptocurrency on a monthly basis.
BAT was trading at US$1.20 on Coingecko during press time. It soared by over 7% on the 24-hour count, following the announcement on Monday. Its market capital currently sits around US$1.7 billion.
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