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2022-01-14 16:00:27

Binance Backs WOO Network With A $12 Million Strategic Investment

Binance is the largest exchange platform in trading volume within the crypto industry. Through its user-friendly interface, the exchange has over 20 million users. In addition, the platform supports several cryptocurrencies that would boost an investor’s portfolio. In its move to enhanced performance and services to customers, Binance has a strategic investment of $12 million through its venture capital arm. The investment is in a liquidity platform, WOO Network. This liquidity platform connects users to exchanges, DeFi networks, and other institutions. Binance Labs, which kicked off in 2017, has committed relationships through early-stage investments in several companies. Related Reading | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K Some include DoraHacks, the hackathon organizer, and LayerZero, an interoperability start-up. Also, Binance took part in bigger fundraising rounds like the $10 million Series C fundraising round for Figment, a crypto staking company. Thoma Bravo was in the lead of this fundraising project. Through a press release, Binance Labs Investment Director Peter Huo put forth his reactions to the company’s investment. First, he acknowledged WOO Network’s remarkable impact on the entire crypto ecosystem using its features and functionality. Also, he mentioned the Network provision of zero-fee trading through on-chain and off-chain and deep liquidity. Furthermore, Huo expressed his...

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