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Binance Labs Announces Investment in New Cross-Chain DEX and Bridging Aggregator

June 19, 2024

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

In a new blog post, the world’s largest crypto exchange by volume says that it is investing an unspecified amount of money into interoperability DEX Rango.

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

According to Binance, Rango currently supports over 60 digital assets, 70 DEX protocols, and 20 bridges, bringing its total volume to over $3 billion. As of June 19th, 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.

Binance says that by focusing on decentralized finance (DeFi) infrastructure, Rango will usher in the next billion DeFi users.

As stated by Yi He, co-founder of Binance and head of Binance Labs, in the 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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