Binance Labs Leads $12 Million Series A+ Investment in WOO Network

Binance Labs invested $12 million in WOO Network as the two parties expand their long-standing relationship.

After this round of investment, Binance will support the rapid expansion of WOO Network through talent recruitment, R&D, and development of new decentralized products.

Binance Labs , a venture capital firm and innovation incubator, today announced a US$12 million strategic investment in WOO Network’s A+ round of financing, a network that connects users with exchanges, institutions, and DeFi Liquidity platform.

WOO Network provides liquidity to more than 40 institutions, exchanges, trading teams, wallets and decentralized applications. WOO Network was incubated by leading quantitative trading company Kronos Research in 2019, providing the cheapest liquidity through algorithm aggregation and trading technology.

Users can use the client to connect to the centralized network directly through the API or the more friendly WOOX graphical user interface.

Since 2021, WOO Network has begun to provide liquidity on Binance Smart Chain (BSC) through its decentralized WOOFi product, which uses WOO Network’s custom market data feedback and advanced hedging strategies to provide a centralized market The depth and price difference without excessive capital on the chain.

WOO Network liquidity currently supports many decentralized protocols, including DYDX, Matcha, ParaSwap, 1inch, and DODO.

Its solutions for efficient capital operation have greater advantages than passive liquidity providers.

Ran Yi, Head of Ecosystem Development of WOO Network, said: “When it comes to liquidity, Binance is far ahead of other centralized exchanges in terms of transaction volume and user volume.

Formally establishing a partnership with Binance will enable Binance to Accelerate Binance’s growth through closer communication with Binance.

As a member of the Binance Smart Chain MVB program, Binance develops products and guide early projects in the program.

Binance has a unique advantage to advance Binance’s strategic cooperation.”

Bill Chin, Investment Director of Binance Labs, said: “As the world’s leading blockchain ecosystem, Binance understands the importance of a liquidity platform and looks forward to investing in and cooperating with industry leaders such as WOO Network.

Peter Huo, Investment Director of Binance Labs, added: “WOO Network has strongly promoted the development of the crypto ecosystem by providing deep liquidity and zero-fee transactions on and off the chain.

Binance is very happy to expand the long-term partnership and hope Explore further cooperation, especially in the construction of BSC.

WOO Network’s A+ round of financing followed its US$30 million A round of financing announced in November and was jointly invested by strategic partners such as Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com Capital, Avalanche, and BitTorrent .