Binance US now supports Abstract Chain, letting U.S. users deposit and withdraw ETH on the Layer 2 network without bridging.
Summary
- The integration is part of Binance US’s broader expansion of Ethereum Layer 2 support, following earlier adoption of the Base network for ETH and USDC transactions.
- Abstract Chain, developed by Igloo Inc. and backed by investors including Peter Thiel’s Founders Fund, delivers scalable, low-cost transactions with features like account abstraction and social login.
Binance US has integrated Abstract Chain, a recently launched Ethereum Layer 2 network, allowing U.S. users to deposit and withdraw Ethereum (ETH) without the need for bridging. This means faster, cheaper, and more secure transactions for users looking to access the Abstract ecosystem, including its dApps and NFT platforms.
The integration is part of Binance US’s ongoing efforts to expand support for Ethereum Layer 2 solutions. Earlier this year, the platform added support for the rapidly growing Base network, enabling users to deposit and withdraw ETH and USDC through this Layer 2.
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Abstract Chain, developed by Igloo Inc., the team behind the popular Pudgy Penguins NFT collection, launched in January this year as a consumer-focused Ethereum Layer 2 solution. Investors, including Peter Thiel’s Founders Fund, backed the project with a total of $11 million last July. Leveraging zk-rollups and EigenDA technology, Abstract Chain delivers scalable, low-cost transactions, while features like account abstraction and social login support are designed to lower barriers for new crypto users.
The integration with Binance US is the latest development contributing to Abstract Chain’s expanding adoption across major platforms, including Magic Eden for NFTs, Uniswap for decentralized trading, and Seedify for blockchain gaming and launchpad services.
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