Bancor, a popular decentralized exchange (DEX) protocol on the Ethereum blockchain has announced the launch of their new enhanced product named BancorX.
The company announced that its partnership with EOS is completed, allowing cross-blockchain token swaps. This will help the users convert between Ethereum and EOS based tokens automatically.
The collaboration of Bancor and EOS was initially made public in September. Back then, the decentralized exchange (dex) stated that it and the EOS platform would set up cross-token swaps ETH-EOS via Bancor’s dApp BancorX.
Bancor co-founder and head of business development Galia Benartzi said “The ability to easily convert assets cross-chain points to a future in which token projects and users are empowered to seamlessly interact with any blockchain which best suits their needs.”
BancorX currently supports a copious amount of Ethereum ERC20 tokens and uses its own BTN token to make the cross-blockchain transfers. Bancor states that this is the first of its kind and paves the way for “vastly more blockchains” to be included.