Binance Labs Makes Investment in Rango’s Cross-Chain Decentralized Exchange

Binance Labs, the venture arm of leading cryptocurrency exchange Binance, has strategically invested in Rango. People recognize this platform as a pioneering cross-chain decentralized exchange (DEX) and bridge aggregator. The terms of the investment remain undisclosed, underscoring the strategic nature of the partnership.

Binance Labs has invested in Rango, a cross-chain decentralized exchange (DEX) and bridge aggregator. Rango’s interoperability enables easy transacting across diverse blockchain ecosystems to drive DeFi growth. https://t.co/khOH1jDMQB

— Wu Blockchain (@WuBlockchain) June 19, 2024

Rango Boosts Cross-Chain DeFi with Blockchain Support

Rango improves transactions across various blockchains, which is crucial for advancing DeFi.The platform supports a wide array of major blockchains, including Bitcoin (BTC), Solana (SOL), Tron (TRX), the Cosmos Ecosystem, and Starknet (STRK). This broad compatibility is essential for multi-chain wallets that require robust cross-chain functionality. 

We’re thrilled to announce that Rango has raised a new investment round led by @BinanceLabs, joined by @NomadCapital_io and @ForesightVen. 💥 This empowers Rango to push the boundaries of cross-chain aggregation, in our mission to process over 90% of cross-chain DeFi volume.… pic.twitter.com/4EXoMGe0TU

— Rango (@RangoExchange) June 19, 2024

You can access Rango through popular wallets and decentralized apps like Trust Wallet, Exodus, Binance Web3 Wallet, and Compound. Rango’s infrastructure supports over 60 blockchains, more than 70 DEXes, and over 20 bridges, highlighting its comprehensive integration.

Rango’s $3B Transaction Milestone and Market Plans

Since it started, Rango has processed over $3 billion in transactions. Moreover, it has facilitated over 2.5 million swaps for 590,000 unique wallets. The platform handles over 3,000 organic cross-chain swaps daily, showing significant growth and adoption within the DeFi community.

Yi He, co-founder of Binance and Head of Binance Labs, expressed enthusiasm about the new partnership. “We are committed to fostering innovation in cross-chain development,” she stated. “Rango’s capabilities level with our objectives at Binance Labs.”

In response to the investment, Vahid Kaya, Co-Founder of Rango, explained the importance of collaboration. “Working with Binance Labs will boost our efforts to enhance multi-chain interoperability,” Kaya said. “We are excited to expand our services and integrate more trending blockchains to meet the evolving needs of DeFi users worldwide.”

Moreover, Yi He, co-founder of Binance and Head of Binance Labs, expressed enthusiasm for the partnership, highlighting Rango’s alignment with Binance Labs’ innovation goals.Vahid Kaya, Co-Founder of Rango, noted the importance of collaboration with Binance Labs to enhance multi-chain interoperability. He explained their goal to expand services and meet the growing needs of DeFi users.

Binance Labs’ Backing to Boost Multi-Chain Interoperability

Supported by Binance Labs, Rango will significantly expand its infrastructure to meet the growing demands of the DeFi sector. Consequently, this strategic investment enhances Rango’s resources, ensuring it can continue to support the needs of its users.

With this support, Rango leads the cross-chain exchange landscape, driving innovation and growth. The partnership with Binance Labs underscores Rango’s commitment to decentralized finance through robust and scalable cross-chain solutions.

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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.