Venture capital firm and the investment arm of cryptocurrency exchange Binance, Binance Labs, unveiled its recent investment in Rango, a cross-chain decentralized exchange (DEX) and bridge aggregator.
Rango functions as a routing and aggregation protocol facilitating both cross-chain and on-chain swaps by integrating bridges and DEXs. As a new layer atop all Bridges and DEXs, it aggregates these platforms to streamline on-chain and cross-chain swaps, ensuring optimal efficiency, security, affordability, as well as speed for token exchanges across different blockchains.
The Rango exchange currently supports over 60 blockchains, 100 DEXs, 22 bridges, featuring a user-friendly interface. It also accommodates major EVM-based, Cosmos-based, Solana, and UTXO blockchains, with plans to integrate Near, Polkadot, Cardano, and other networks in the near future. Furthermore, its services are accessible via cryptocurrency wallets and decentralized applications (DApps), encompassing TrustWallet, Exodus, Binance Web3 Wallet, and Compound.
Its cumulative transaction volume surpasses $3 billion. As of June 19, the platform has facilitated more than 2.5 million swaps involving 590,000 unique wallets, with over 3,000 organic cross-chain swaps executed daily. Additionally, it manages over 2 million daily swap quotes, prioritizing quick response times to accommodate its expanding user community.
We’ve invested in @RangoExchange
Rango is a cross-chain decentralized exchange and bridge aggregator.
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https://t.co/raSXDxU4bM
— Binance Labs Fund (@BinanceLabs) June 19, 2024
Binance Labs Nurtures Blockchain Innovators With $10B Portfolio
Binance Labs identifies, invests in, and supports promising blockchain entrepreneurs, startups, and communities, offering funding to projects that contribute to the development of the broader blockchain ecosystem. The focus is on agile, technically proficient teams that drive innovation in the cryptocurrency sector and contribute to the advancement of decentralized web.
The venture capital firm has grown significantly, with a portfolio now exceeding $10 billion. It has invested in 250 projects spanning more than twenty-five countries on six continents, achieving an impressive return on investment rate exceeding 14X.
Recently, Binance Labs provided backing for Zircuit, which is a zero-knowledge rollup solution featuring AI-powered sequencer-level security, and Movement Labs, an integrated blockchain network, among other noteworthy projects.
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