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Binance Labs Invests $10 Million in Radiant Capital




Binance Labs the incubation arm of Binance, announces the investment of $10 million in Radiant Capital, a lending and borrowing protocol. Radiant Capital focuses on bridging fragmented liquidity across decentralized finance ecosystems.

The innovative cross-chain lending and borrowing protocol developed by Radiant Capital enables users to deposit and borrow assets seamlessly across multiple chains.

Radiant Capital currently supports over 20 collateral options and aims to expand to numerous EVM chains.

Yi He, Co-Founder of Binance and Head of Binance Labs, commented: “Binance Labs actively seeks out promising DeFi projects that not only advance the industry but also push the boundaries of innovation. Radiant Capital’s commitment to facilitating seamless cross-chain transactions for DeFi, and performance on Arbitrum and BNB Chain demonstrates its potential for driving mass adoption. We look forward to seeing Radiant’s continued growth and further contributions to the ecosystem.”

“I am tremendously excited about our partnership with Binance Labs, as they bring extensive expertise, resources, and strategic support to the protocol. Their investment will play a crucial role in propelling Radiant to new heights as the protocol expands to new chains, continues to scale, and drives utility back into the ecosystem,” said George Macallan, Founder of Radiant Capital.

The price of RDNT rises by 10% as soon as Binance Labs announces the investment in Radiant Capital. At press time the price of RDNT is $0.3060.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.