Binance Labs announced $12 million strategic investment in Woo Network

The funds raised will be used to expand through research as well as create new decentralized products

04.01.2022 - 13:45

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1 min

What’s new? Binance Labs, the venture capital arm of the world's leading cryptocurrency exchange, has announced a $12 million strategic funding into institutional liquidity provider Woo Network. The information about this appeared on the Binance blog.

Information on the Binance blog

What does the Binance Labs representative say? Peter Huo, investment director at Binance Labs, said:

“WOO Network adds significant value to the crypto ecosystem by providing deep liquidity and zero-fee trading both on- and off-chain. We are excited to expand our long-lasting relationship and explore further collaborations, especially on [Binance Smart Chain].”

What is known about Woo Network? The company provides active liquidity to over 40 institutions, exchanges, trading teams, wallets, and DeFi platforms. Woo Network offers two main products: WOO Trade for institutional investors and the retail-focused WOO X platform.

The organization raised more than $12 million in its latest funding round. The company intends to use the capital to expand rapidly by attracting talented specialists, conducting research and development, as well as creating new decentralized products.

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