Binance Labs, the venture capital arm of Binance, has invested $10 million in cross-chain lending and borrowing protocol Radiant Capital.
The funding round will fuel further product developments and expansion to other Ethereum-compatible chains.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Binance Labs, the venture capital arm of crypto exchange Binance, has invested $10 million in cross-chain lending and borrowing protocol Radiant Capital.
The funding round is part of Binance Labs’ “commitment to supporting innovative projects that will lead the next era of DeFi in a chain-agnostic and user-centric manner,” according to a statement. Radiant is built on top of LayerZero, an interoperability protocol enabling multiple blockchains to communicate with each other. LayerZero developer LayerZero Labs is also part of Binance Labs’ portfolio.options
on Arbitrum and BNB Chain. The Radiant DAO plans to expand the protocol’s functionality to more Ethereum-compatible chains over time, reducing the need for multiple transactions to facilitate lending, borrowing, bridging and swapping between chains, the team said.
"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,” Radiant Capital founder George Macallan said.
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