Around $12M Invested in WOO Network by Binance
An investment of $12M was announced by a venture capitalist arm of Binance, in WOO network, which is a liquidity platform that connects users to institutions, exchanges, and DeFi (Decentralized Finance) networks.
WOO Network adds great functionality to the crypto ecosystem by providing deep liquidity and charging no trading fee both on- and off-chain.
At present, around 40 institutions, exchanges, trading teams, decentralized applications, and wallets are offered liquidity through WOO Network. The company offers a platform, WOO trade, for institutional investors, and the retail-focused investors of WOO X.
In 2021, with the launch of the WOOFi Swap, WOO Network started providing liquidity on Binance Smart Chain. WOOFi Swap uses institutional market-making techniques and liquidity networks to escalate pricing and diminish slippage.
WOO Network closed a Series A round worth $30 million in November, that involved investments from Avalanche, Three Arrows Capital, BitTorrent, and Crypto.com Capital.
Disclaimer: The article is just to provide information and shouldn’t be considered as any financial advice. It is advisable to conduct thorough research before investing in any cryptocurrency.
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