Binance’s investment arm is set to invest in a new cross-chain decentralized exchange (DEX) and bridging aggregator.
In a recent post on their blog, the largest crypto exchange by volume announced that they will be investing an undisclosed sum into interoperability DEX Rango.
Rango is a cross-chain exchange that brings together sources and links traders to the best rates across a variety of blockchains, including Bitcoin (BTC), Solana (SOL), Tron (TRX), and Cosmos (ATOM).
Binance reports that Rango currently supports over 60 digital assets, 70 DEX protocols, and 20 bridges, with a total volume of over $3 billion. By June 19th, Rango had already processed over 2.5 million crypto-related swaps and was handling over 3,000 trades daily.
Traders can access Rango through popular crypto wallets such as Exodus, Compound, TrustWallet, and Binance’s own wallet.
Binance believes that by focusing on decentralized finance (DeFi) infrastructure, Rango will pave the way for the next billion DeFi users.
Yi He, co-founder of Binance and head of Binance Labs, stated in a press release, “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.”
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