BSC is an independent blockchain network that offers smart contract functionality and Ethereum VM compatibility. In 2021, its infrastructure has facilitated more than US $15 billion in total transaction volume, and continues to grow. In the announcement, Switcheo said:
Harnessing the power of Poly Network, Switcheo TradeHub will be able to bring next generation derivatives to various [layer one] blockchains, allowing us to connect and access assets on other [layer one] chains… Our integration with BSC brings us a step closer to our vision of limitless markets, and opens up infinite possibilities for various cross-chain financial transactions.
TradeHub v1.15 will allow for cross-chain transactions between BSC and TradeHub, and offer two primary benefits. First, users have access to decreased onboarding costs by utilizing the benefits of a centralized exchange. Second, it expands order books and derivatives services beyond Uniswap-like non-custodial exchanges via Demex.
Voting for TIP #11 to implement TradeHub v1.15 concludes March 17, when validators must update their nodes.
The full announcement can be found at the link below: https://blog.switcheo.network/switcheo-is-joining-the-binance-smart-chain-family