Leading crypto exchange FTX has reportedly rolled out facilitating features for Binance Smart Chain BEP-20 tokens, built in its wallet offerings, as an effort to achieve deeper market penetration. 

Specifically, FTX wallets will now reportedly offer active facilitating features, regarding the withdrawals for Binance USD (BUSD) and Binance Coin (BNB), both native to the Binance Chain. The firm will be making BSC BEP-20 tokens-enabled deposits available soon. 

“Ftx.com/wallet now supports BSC for BUSD and BNB! (Withdrawals are live — I *think* deposits are; otherwise they will be very soon.)” Head of FTX – Sam Bankman-Fried – generated confirmation for the rolled out update. 

Nonetheless, the new offerings are still not accessible for the FTX platform catering to the US market – FTX US – together with other banned jurisdictions. 

Via an initial interview, Bankman-Fried reportedly suggested that the authorities would need a period of three to half a decade to establish regulatory certainty for crypto entities, having plans of function within their jurisdictions.

The entrepreneur also reportedly spends “five hours a day on everything from regulation to licensing.”

Recently, FTX has set up a limitation regarding leverage trades for its users as well, with a maximum of 20x rather than offering up to 101x. The goal of this initiative is to bring down the inherent volatility risks, related to crypto trading, to the lowest. 

Regardless of the move, the crypto exchange entity has reportedly not experienced any decline in terms of trading volumes following the announcement.