Binance Invested $12 Million in WOO Network

Binance invested $12 million in WOO Network. Crypto exchange Binance continues to invest in technology.

Binance, which also has a venture capital arm under its management, came to the fore with the new investment of its unit called Binance Labs. Binance Labs; announced that it has invested in WOO Network, the liquidity platform that connects consumers to institutions, exchanges and DeFi networks. It was stated that the size of the investment was at the level of 12 million dollars. Making a statement on the subject, Binance Labs investment director Peter Huo used the following statements: “WOO Network adds significant value to the crypto ecosystem by providing deep liquidity and zero-fee trading, both on-chain and off-chain. We are excited to expand our long-standing relationship and explore further collaborations, especially on Binance Smart Chain.” It is known that WOO Network provides liquidity to over 40 institutions. The company launched WOOFi Swap in 2021. Along with this, Binance Smart Chain liquidity has also been added. To take a look at one of Binance Labs' recent investments, the company invested $60 million in Multichain last month.