According to the latest information, Binance Labs announced that it will make a strategic investment of 12 million dollars in WOO Network. WOO Network provides active liquidity to more than 40 institutions, exchanges, investment teams, wallets and decentralized applications.
Strategic Investment from Binance
According to the statements made in the official blog post, Binance Labs states that there is a long-standing partnership between the two parties and this situation is expanding with an investment of 12 million dollars.
According to the statements made, Binance’s investment will contribute to Woo Network’s research, development and creation of new decentralized products.
WOO Network and Binance
Commenting on the investment, Ran Yi, WOO Network Ecosystem Development Manager, commented, “When talking about liquidity, Binance has by far the highest volume and user density of any centralized exchange. Seizing the opportunity to formalize our relationship with Binance will allow us to accelerate our growth by working more closely with Binance across all industry verticals. As a member of the Binance Smart Chain’s Most Valuable Builder program, where we develop products and mentor early-stage projects, we are in a unique position to expand our strategic relationship.” used his words.
Bill Chin, Head of Investment at Binance Labs, used the following statements in his statements on the subject:
As the world’s leading crypto exchange, Binance appreciates the importance of liquidity platforms and looks forward to investing and collaborating with industry leaders like WOO Network.
Additionally, WOO Network’s Series A+ fundraising round is the $30 million Series A’ Series announced in November, led by strategic partners including Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com Capital, Avalanche, and BitTorrent. comes right after.