The investment arm of Binance which is known as Binance Labs has recently invested huge money in the new venture known as Rango. Rango is the first and only cross-chain DEX and bridge aggregator. This is viewed as a big vote of confidence in cross-chain technology and development in the DeFi ecosystem.
The latest investment by Binance Labs shows how much the company is willing to do to drive forward cross-chain solutions. Rango enables easy transactions with other blockchains and has received acclaim for its well-developed interoperability solutions. Details regarding the investment such as the amount have not been revealed but the partnership is expected to create massive value and transformation.
Rango is one of the few projects that can be considered a leader in the field of cross-chain DEX and bridge aggregators. It currently offers the backing of many significant blockchains including Bitcoin, Solana, Cosmos Ecosystem, Tron, and Starknet. Some of its key strengths are that it supports over 60 blockchains more than 70 DEXes and over 20 bridges, proving its flexibility and openness.
One of the key strengths of Rango is its user-friendly services, accessible through popular wallets and decentralized applications (Dapps) like TrustWallet, Exodus, Binance Web3 Wallet, and Compound.
This widespread accessibility has contributed to Rango's substantial growth with the platform managing over $3 billion in transaction volume and facilitating more than 2.5 million swaps for 590,000 unique wallets.
On a daily basis, Rango handles over 3,000 organic cross-chain swaps, ensuring swift and efficient token exchanges for its expanding user base.
The partnership with Binance Labs is expected to propel Rango's multi-chain ecosystem forward. Vahid Kaya, Co-Founder of Rango expressed excitement about the collaboration, emphasizing its potential to enhance the platform's innovative cross-chain solutions.
With Binance Labs' support, Rango aims to expand its infrastructure and integrate additional trending blockchains to meet the evolving needs of DeFi participants globally.
Yi He, co-founder of Binance and Head of Binance Labs highlighted the strategic alignment between Binance Labs and Rango. She stated that Rango’s suite of services aligns with Binance Lab's goal of supporting projects that bolster cross-chain development and innovation. We look forward to seeing Rango’s journey as it continues to shape the DeFi space.
As per CoinGabbar research, the funding of Rango by Binance Labs is a big leap toward the improvement of cross-chain solutions within the DeFi industry. Rango has already demonstrated its ability to work in the environment of multiple blockchains and ensure effective and fast transactions, which makes it one of the leaders in the market. Thus, with the support of Binance Labs, Rango will be able to develop its functionalities, add more blockchains, and meet the needs of DeFi users all over the world. Besides, it also further proves that Binance Labs has been supporting cross-chain projects and opens up the future development of decentralized finance.
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