HomeAltcoin NewsBinance Labs' Cross-Chain Exchange Investment—What's Up?

Binance Labs’ Cross-Chain Exchange Investment—What’s Up?

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Binance Labs’ Crypto Investment: It has been revealed that Binance Labs, the investment division of the cryptocurrency leasing exchange Binance, has invested in Rango. The platform is a pioneering example of a bridge aggregator and a decentralized exchange (DEX) that operates across many chains. In addition, Rango’s technology is intended to make transactions simple across various blockchain ecosystems.

Rango Gets Binance Labs Investment

The most recent investment made by Binance Labs’ Crypto Investment serves to underline the dedication of the venture capital organization to fostering innovation that can be implemented across chains. On the other hand, the particulars of the partnership, including the amount of money invested, are still being kept under wraps. The application Rango, which Binance Labs supports, is designed to meet the increasing demand for interoperability in the decentralized finance sector.

Rango Gets Binance Labs Investment

Furthermore, the most recent release by Binance Labs emphasized Rango’s comprehensive interoperability framework, which supports critical blockchains such as Bitcoin, Solana, Cosmos Ecosystem, Tron, Starknet, and several other blockchains.

Further Platform

Therefore, Rango is a leading contender in the domain of bridge aggregators and cross-chain decentralized exchanges. Further, the platform is integrated with more than sixty blockchains, more than seventy decentralized exchanges, and more than twenty bridges. Within the field of decentralized finance, this highlights its adaptability as well as its widespread accessibility.

Further Platform

The services offered by Rango are readily available through various wallets and decentralized applications (Dapps), which is a noteworthy feature. TrustWallet, Exodus, Binance Web3 Wallet, and Compound are some of the applications developed to expand its user base and improve its usability across various devices.

Rango has seen significant development and popularity since its launch, as evidenced by the fact that its transaction volume has surpassed $3 billion and that it has enabled over 2.5 million swaps for 590,000 different wallets. The platform presently processes more than 3,000 organic cross-chain swaps daily. This ensures that token trades are carried out promptly and effectively for its growing user base.

Co-Founder Remarks On Recent Investment

Yi He, a co-founder and the head of Binance Labs’ Crypto Investment, showed enthusiasm for the collaboration. She emphasized that the investment arm supports projects that propel cross-chain development and innovation. The mission of Binance Labs is to promote initiatives that enhance cross-chain development and innovation. She said, adding that Rango’s services align with this strategy. As Rango’s story unfolds, we’ll be watching to see how it influences the DeFi space.

Co-Founder Remarks On Recent Investment

Vahid Kaya, co-founder of Rango, responded to the investment by highlighting. There is a need to work with Binance Labs to advance multi-chain interoperability. “Rango Exchange will be supported to propel the multi-chain ecosystem with Binance Labs,” Kaya confirmed. Thanks to our support for many blockchains, secure and efficient token swaps are guaranteed everywhere. We’re excited to collaborate with Binance Labs to improve our cutting-edge cross-chain solutions further.

Rango plans to integrate more popular blockchains and extend its infrastructure. Furthermore, it strives to meet the changing requirements of DeFi participants worldwide. The funding from Binance Labs should also provide Rango with the know-how and tools it needs to expand its business.

Also Read: The 11 Best Places to Buy Bitcoin in 2024

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Ali Raza
Ali Raza has been writing about blockchain and cryptocurrencies for over Three years and is now the editor-in-chief of Latestcoinsnews. After a meteoric rise in late 2016, Ali Raza's enthusiasm for Bitcoin and other cryptocurrencies skyrocketed. He can't sleep with one eye on the market because he's so fascinated by the technical and economic ramifications of cryptocurrency.

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