Like most bridges, Multichain uses a mint-and-lock mechanism to move assets between the 92 blockchains it interacts with. For example, if a USDC stablecoin holder bridges an asset from Ethereum to Fantom via Multichain, the token will be locked in a smart contract on Ethereum and then reissued on Fantom – in this case as a “wrapped” token called anyUSDC.
The multi-chain bridge has been shunned by Binance and other cryptocurrency players like Rumors Swirl
