Binance wants crypto projects to migrate to its chain from Ethereum, and the firm’s massive trading business could help

Binance's quick rise has left other exchanges eating its dust, and now it is setting its sights on replacing one of the largest cryptocurrency networks.

Sources familiar with the situation tell The Block the Malta-based firm, led by the notorious Changpeng "CZ" Zhao, is trying to lure projects building on Ethereum to switch over to Binance's native blockchain, Binance Chain. Binance Chain is core to the firm's vision to become a decentralized platform for different cryptos to trade and was launched in 2018. The firm, sources say, is hoping the appeal of listing on the platform will serve as an enticing incentive.

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