Binance Labs Invests in Cross-Chain DEX and Bridging Aggregator Rango

Binance’s venture capital arm is announcing an investment into a new cross-chain decentralized exchange (DEX) and bridging aggregator.

Cryptocurrency exchange Binance announced on Monday that it has invested in Rango, a cross-chain decentralized exchange (DEX) and bridging aggregator.

The world’s largest crypto exchange by volume did not disclose the amount of the investment.

According to a Binance blog post, Rango is a cross-chain DEX that aggregates sources and connects traders to the best rates across multiple blockchains, including Bitcoin (BTC), Solana (SOL), Tron (TRX), and Cosmos (ATOM).

It currently supports over 60 digital assets, 70 DEX protocols, and 20 bridges, bringing its total volume to over $3 billion, the blog post said. As of June 19, Rango has processed over 2.5 million crypto-related swaps and is handling over 3,000 trades daily.

Traders can access Rango via popular crypto wallets such as Exodus, Compound, TrustWallet, and Binance’s proprietary wallet.

By focusing on decentralized finance (DeFi) infrastructure, Rango will usher in the next billion DeFi users, Binance said in the blog post.

“Rango’s suite of services aligns with Binance Lab’s goal of supporting projects that bolster cross-chain development and innovation,” Yi He, co-founder of Binance and head of Binance Labs, said in the press release. “We look forward to seeing Rango’s journey as it continues to shape the DeFi space.”

News source：https://www.kdj.com/cryptocurrencies-news/articles/binance-labs-invests-crosschain-dex-bridging-aggregator-rango.html

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