Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has invested $10 million in cross-chain lending and lending protocol Radiant Capital (RDNT).
According to the statement, the funding round is part of Binance Labs' “commitment to support innovative projects that will lead the next era of DeFi in an off-chain and user-centric way.”
Yi He, Binance co-founder and chairman of Binance Labs, said in a statement regarding the investment:
“Radiant Capital's commitment to facilitating seamless cross-chain transactions for DeFi and its performance in Arbitrum and BNB Chain demonstrate its potential to drive mass adoption.
We look forward to Radiant continuing to grow and contribute more to the ecosystem.”
“Radiant Capital's mission is to usher in a new era of DeFi focused on providing a seamless, secure and easy-to-use omnichain lending experience,” said George Macallan, founder of Radiant Capital.
The team added that the funding round will support further product development, including expanding oracle support, increasing collateral options, deployment on the Ethereum mainnet, and full LayerZero messaging support.
*Not investment advice.
