Binance Fully Integrates Ethereum Scaler Arbitrum One

Users can now deposit ether to their Binance accounts via Arbitrum One.

Nov 19, 2021 at 8:38 a.m. UTC
Updated Nov 19, 2021 at 3:55 p.m. UTC

Binance has completed the integration of Arbitrum One mainnet, a scaling solution for the Ethereum network, and is allowing users to deposit ether via Arbitrum One Layer 2, the exchange announced on Nov. 19.

  • Arbitrum One is the beta mainnet of a rollup solution developed by Offchain Labs.
  • Binance has assigned ether deposit addresses to users. The exchange will open withdrawals at a later, unspecified date, according to the announcement.
  • One decentralized finance trader told CoinDesk via Discord that “this is fairly big news because it will enable more people to use Arbitrum without having to touch Ethereum.” Currently, users have to go onto a different network, then bridge to Aributrum, which can be expensive, the trader said.
  • Rollups are an increasingly popular solution to boost throughput on Ethereum. They work by executing transactions outside Ethereum’s main chain, layer 1, but storing the data on it.

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Eliza Gkritsi is a CoinDesk news reporter based in Asia.

Omkar Godbole is the senior reporter on CoinDesk's Markets team.