Binance Invests in Cross-Chain DEX Aggregator Rango

Published 19/06/2024, 16:00
Binance Invests in Cross-Chain DEX Aggregator Rango

Coin Edition -

  • Binance Labs invests in Rango, enhancing cross-chain DEX.
  • Rango facilitates secure and efficient token swaps across multiple blockchains.
  • Partnership aims to enhance cross-chain solutions and drive DeFi growth.

Binance Labs, the venture capital and incubation arm of the world’s leading cryptocurrency exchange Binance, has invested in Rango, a cross-chain decentralized exchange (DEX) and bridge aggregator.

The investment amount remains undisclosed, but the partnership aims to drive growth in the DeFi sector by facilitating seamless transactions across multiple blockchains. Boosting over $3 billion in transaction volume, Rango facilitates seamless transactions across various blockchains; 70+ DEXes and 20+ bridges to drive DeFi growth.

The protocol currently operates on major blockchains including Bitcoin, Solana, Tron, Cosmos Ecosystem, Starknet, and others. Additionally, Rango’s services are accessible through popular wallets and decentralized applications (DApps) like TrustWallet, Exodus, Binance Web3 Wallet, and Compound.

By aggregating liquidity from various sources, Rango ensures optimal trade prices for users, reducing slippage and enhancing efficiency. The platform supports a wide array of tokens and offers a unified API and a user-friendly interface for a seamless trading experience.

As of June 19, Rango has processed over 2.5 million swaps for 590,000 unique wallets and is handling over 3,000 organic cross-chain swaps daily. The funding will be used to enhance its infrastructure and expand support for additional chains.

Speaking on the investment, Vahid Kaya, Co-Founder of Rango stated:

“With Binance Labs, Rango Exchange will be supported to propel the multi-chain ecosystem. Offering support for diverse blockchains, we ensure secure and efficient token swaps anywhere. We’re thrilled to work alongside Binance Labs to further enhance our innovative cross-chain solutions.”

Recently, Binance Labs partnered with BNB Chain, the community-driven blockchain ecosystem, to launch the Incubation Alliance. This new program invites builders, founders, and developers to participate in the network’s 10-week accelerator program to create new blockchain projects.

The BNB Chain Core Development Team emphasized that the alliance will nurture developing talent within the network, and equip them with the expertise, and resources required for success. Binance Labs CEO Yi He stated that the collaboration underscores Binance’s commitment to developing blockchain talent.

The post Binance Invests in Cross-Chain DEX Aggregator Rango appeared first on Coin Edition.

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