A gaming-focused Ethereum (ETH) sidechain is integrating with Binance Pay as a means of making wallet funding easier for consumers.

In a new blog post, Ethereum sidechain Ronin (RON) says that it is collaborating with the world’s largest crypto exchange by volume to make it easier to fund the Ronin crypto wallet.

According to Ronin, Binance Pay was chosen because it has a mechanism that allows traders to access their funds on Binance and use them outside of the crypto exchange.

“Over the past few weeks, we’ve seen one question pop up again and again: ‘How can I onboard my funds to Ronin?’ While the Ethereum bridge and our partners at Ramp are a great place to start, today we’re introducing yet another onboarding partner into the Ronin ecosystem – Binance Pay.

As Axie Classic DAU (daily active users) surges and Pixels takes the world by storm, this is a great opportunity to tell your family and friends that it has never been easier to fund their first Ronin wallet.”

Ronin, which was launched in 2021 by Sky Mavis, the firm responsible for the decentralized gaming protocol Axie Infinity (AXS), was created as a scaling solution that could accommodate millions of daily users.

However, the protocol was exploited in March 2022 to the tune of 173,600 ETH and 25.5 million USDC at the time worth $600 million by the Lazarus Group, a hacking crew associated with the North Korean government.

In February, Norwegian authorities seized nearly $6 million worth of digital assets stolen in the attack – the largest amount of crypto ever seized by Norwegian police at the time.

RON is trading for $1.09 at time of writing, a 2.77% increase during the last 24 hours.

Generated Image: Midjourney

The post Gaming-Focused Ethereum (ETH) Sidechain Ronin Integrates Binance Pay To Enable Easier Wallet Funding appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ December 2, 2023 6:22 pm