Binance venture capital arm leads $12M investment in WOO Network

Binance's venture capital arm Binance Labs leads a $12M investment in a Series A+ round of WOO Networks, a liquidity platform that connects users to exchanges, institutions and DeFi networks, according to a blog post. WOO Network provides active liquidity to 40+ institutions, exchanges, trading teams, wallets and decentralized applications. The investment will support WOO Network's expansion through talent acquisition, research and development, as well as the development of new decentralized products, the company says. "WOO Network adds significant value to the crypto ecosystem by providing deep liquidity and zero-fee trading both on- and off-chain," said Binance Labs Investment Director Peter Huo. In mid-December, Binance partnered with a venture capital group to expand blockchain in Indonesia.