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Multichain Bridge Shunned by Binance, Other Crypto Players as Rumors Swirl

by Danny Nelson
May 28, 2023
in Cryptocurrency
Reading Time: 1 min read
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Like most bridges, Multichain uses a mint-and-lock mechanism to move assets between the 92 blockchains it interacts with. For example, if a holder of USDC stablecoin bridges the asset from Ethereum to Fantom via Multichain, the token gets locked up in a smart contract on Ethereum and then issued anew on Fantom – in this case, as a “wrapped” token called anyUSDC.



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Tags: BinanceBridgeCryptoMultichainplayersrumorsShunnedswirl
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