About Binance-Peg Cardano

Binance-Peg Cardano is a BEP-20 token on BNB Chain backed by ADA that Binance custodies on the Cardano network. Cardano is not an EVM chain and issues nothing on BNB Chain, so this token is a claim on Binance, not on Cardano, and it can lose its peg if that claim ever fails.