Binance Labs Reveals Investment in Cross-Chain Exchange Dubbed Rango

Binance Labs, the venture capital arm of the global leader in crypto exchange Binance, has made a new investment. The company disclosed its investment in Rango, a bridge aggregator and cross-chain decentralized exchange.

Notably, Rango enables interoperability across several blockchains, promoting the DeFi ecosystem's sustainability. Moreover, the DEX will leverage the recent investment to enhance its functionality and ease in completing transactions across multiple blockchains.

Binance Labs Invests in Decentralized Exchange Rango

Binance Labs' recently announced investment in Rango underscores the company's commitment to supporting cross-chain innovation.Rango supports seamless transactions across over 60 blockchain ecosystems based on its interoperability. Its functionalities are a strong promoter of the growth in the DeFi space.

Further, Rango defines itself as the pioneer platform in the cross-chain DEX and bridge aggregator in the DeFi space. Moreover, its wide range of capacities promotes activities in more than 70 DEXes and 20 bridges.

Some of the blockchains supported by Rango include Bitcoin (BTC), Tron (TRX), Solana (SOL), Starknet (STRK), Cosmos Ecosystem, and others.

Additionally, Rango enables access to several prominent wallets and decentralized applications (dApps), including the Trust Wallet, Binance Web3 Wallet, Exodus, Compound, and more.

Following its launch in January 2022, Rango has recorded a significant growth rate and adoption in the industry. It has completed more than 2.5 million token swaps across 590,000 unique wallets.

Moreover, the DEX boasts a transaction volume of over $3 billion. Also, Rango's great speed and efficiency in token exchanges account for its growing user base. Currently, the platform handles more than 3,000 organic cross-chain swaps every day.

The latest investment comes after Binance Labs' commitment to Zircuit, a layer-2 project. Circuit integrates artificial intelligence (AI) security with zero-knowledge roll-ups to provide speedy and cheaper transactions on the Ethereum blockchain.

Executive Reacts to The Latest Investment

Binance co-founder and Head of Binance Labs, Yi He, expressed excitement over the recent investment. She mentioned that the venture capital firm remains committed to promoting cross-chain growth and innovation.

Further, the co-founder noted that Rango's functionalities align with the goals of Binance Labs. Also, their company is optimistic about Rango's potential in developing the DeFi space.

On its part, Rango appreciates the investment move from Binance Labs. Rango's co-founder, Vahid Kaya, stated that the support from Binance Labs will aid the DEX to drive more growth in the DeFi space.

Kaya noted that Rango ensures security and efficiency in token swaps across several blockchains. Moreover, its relationship with Binance Labs will propel the platform's innovative cross-chain solutions.

Also, the latest investment move has stirred speculation of an upcoming airdrop from Rango. Some crypto community members expect to witness a token generation event (TGE) from Rango.

According to its tokenomics, Rango allocated 5% of the total supply of RANGO, its native coin, for an airdrop. So, the recent investment has raised the expectations of its community of users.

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