Smart contracts on every blockchain platform have their own set of rules to be followed. Just as Ethereum has its own set of standards called ERC-20, which must be followed by every Ethereum token, similarly, BEP-20 is a token standard that must be followed by tokens being developed on the Binance Smart Chain (BSC).

Binance Smart Chain (BSC) comes with the ability to run smart contracts. BEP-20 is the BSC standard that extends Ethereum’s ERC-20 standard. BSC tokens have to follow these defined frameworks and set of rules described in the BEP-20. The BEP-20 is applicable for every token that shall ever be launched on the Binance Smart Chain (BSC) platform including stablecoins and tokenized securities. BEP-20 token standard is also followed by Peggy coins that are nothing but BEP- 20 tokens pegged to other crypto assets such as Chainlink (LINK) and Bitcoin (BTC).