Cardano Blockchain Users Can Now use Binance’s BUSD

Paigambar Mohan Raj
Source: TradeSanta

According to Cardanoscan, Cardano (ADA) blockchain users can now use Binance’s BUSD stablecoin without switching networks. The move is made possible with the use of the Finitum bridge. The newest token on the network is fmBUSD, which Finitum Bridge has wrapped into a native Cardano (ADA) coin.

The blockchain explorer claims that transactions are already being processed over the bridge, which is open to the public. The bridge is available for use on the official Finitum website.

Nonetheless, users must take caution and evaluate the risks involved with using bridges. However, the coming of Binance’s BUSD on ADA is a significant sign of the growing adoption of Cardano.

Cardano is still the top blockchain in terms of development

Beginning in 2023, Cardano (ADA) has experienced rapid growth. This is due to the project’s continuing growth and development. Furthermore, there is a lot of excitement around planned upgrades that are expected to improve the functionality of its smart contract platform.

Data from ProofofGitHub shows that Cardano (ADA) is the most advanced network on the cryptocurrency market, outpacing rivals like Polkadot (DOT) and Cosmos (ATOM). As a result, the currency now has a strong ecosystem, with more than 4,800 smart contracts on its network and more than 1,000 projects.

Additionally, Cardano is pursuing the integration of Python-written contract scripts for its smart contract platform. This project is still in progress and was introduced on January 10 through a network transaction.

A significant development for the currency is the Cardano Improvement Proposal 30 (CIP-30). The proposal makes it possible to build a web-based communication bridge that makes it easier for Cardano wallets and Web2 services like Amazon to connect. The use of JavaScript code, which is included in web pages, gives way to the idea. Additionally, CIP-30 enables ADA hot wallets to add new features, enhancing their functionality and luring new users.

At press time, ADA was trading at $0.379329, up by 0.3% in the last 24 hours.