What is Binance Wrapped BCH (BBCH)?

Binance Wrapped BCH (BBCH) is an ERC-20 token that represents Bitcoin Cash (BCH) on the Ethereum network. It is issued through Binance's Token Canal program, which locks BCH on Binance's native chain and mints an equivalent amount of BBCH on Ethereum. This process ensures that each BBCH token is backed 1:1 by Bitcoin Cash, allowing users to utilise their Bitcoin Cash holdings on the Ethereum blockchain.

What is Binance Wrapped BCH (BBCH) used for?

Binance Wrapped BCH (BBCH) is used to enable Bitcoin Cash holders to participate in the Ethereum ecosystem. By converting BCH to BBCH, users can engage in decentralised finance (DeFi) applications, such as lending, borrowing, and trading on decentralised exchanges (DEXs). This facilitates the use of Bitcoin Cash in a wider array of financial activities, leveraging Ethereum's smart contract capabilities while maintaining the value of the original Bitcoin Cash.

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BBCH	ERC20	ETH	0x85c4edc43724e954e5849caaab61a26a9cb65f1b	2020-10-23