“Rango’s interoperability enables easy transacting across diverse blockchain ecosystems to drive DeFi growth…To usher in the next billion DeFi users, Rango is focused on enhancing its infrastructure and extending support for additional chains.”The above statement suggested the rationale behind Binance Labs’ move. The firm could be betting big on Rango Exchange, with its cross-chain and aggregation capabilities, as a possible driver for DeFi usage at scale.
So far, Rango has reportedly handled a $3 billion transaction volume, over 2 million swaps involving nearly 600K unique wallet addresses. This underscored its potential and factor for VCs’ interests. Binance Labs’ investment was part of the second funding round for the exchange. Although it was strategic, other VCs, including Nomad Capital and Foresight Ventures, joined in.@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.
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Source: CryptoAmb - 🏆 22. / 68 Read more »