Binance US now supports Abstract Chain, allowing U.S. users to deposit and withdraw ETH on the Layer 2 network without bridging.
Summary
- The integration is part of Binance US’s wider expansion of Ethereum Layer 2 support, following the earlier implementation of the Base network for ETH and USDC transactions.
- Abstract Chain, created by Igloo Inc. and supported by investors like Peter Thiel’s Founders Fund, offers scalable, economical transactions with features such as account abstraction and social login.
Binance US has integrated Abstract Chain, a newly launched Ethereum Layer 2 network, enabling U.S. users to deposit and withdraw Ethereum (ETH) without the requirement for bridging. This facilitates quicker, more affordable, and more secure transactions for users wishing to access the Abstract ecosystem, including its dApps and NFT platforms.
The integration is part of Binance US’s continuing efforts to enhance support for Ethereum Layer 2 solutions. Earlier this year, the platform added support for the rapidly expanding Base network, allowing users to deposit and withdraw ETH and USDC via this Layer 2.
Abstract Chain, developed by Igloo Inc., the team responsible for the well-known Pudgy Penguins NFT collection, was launched in January this year as a consumer-oriented Ethereum Layer 2 solution. The project, backed by investors like Peter Thiel’s Founders Fund, raised a total of $11 million last July. Utilizing zk-rollups and EigenDA technology, Abstract Chain facilitates scalable, low-cost transactions, while features such as account abstraction and social login support are aimed at reducing barriers for new crypto users.
The integration with Binance US is the latest milestone contributing to Abstract Chain’s growing adoption across major platforms, such as Magic Eden for NFTs, Uniswap for decentralized trading, and Seedify for blockchain gaming and launchpad services.
