Binance Invested $12 Million In WOO Network

There are all kinds of exciting moves taking place in the crypto space these days. The latest one comes from Binance, which invested $12 million in the liquidity platform WOO Network.

The platform is connecting users to exchanges, institutions, and DeFi networks as well.

“WOO Network adds significant value to the crypto ecosystem by providing deep liquidity and zero-fee trading both on- and off-chain. We are excited to expand our long-lasting relationship and explore further collaborations, especially on [the Binance Smart Chain].”

This is what Peter Huo, Binance Labs investment director, said in a press release.

CoinDesk noted in a recent article that WOO Network provides liquidity to more than 40 institutions, exchanges, trading teams, wallets and decentralized applications.

It’s also important to note the fact that the company’s products include WOO Trade, a platform for institutional investors, and the retail-focused WOO X, which combines zero-fee trading and deep liquidity.

A few days ago, we were revealing that Binance is marking a significant achievement that also marks a boost for crypto mass adoption. This has been one of the main goals that the crypto space has seen and more moves are taking place in this direction.

Check out the latest reports coming from Binance.

Binance’s official blog post notes the following:

“Binance has received in-principle approval from the Central Bank of Bahrain (CBB) to establish itself as a crypto-asset service provider in the Kingdom of Bahrain. The in-principle approval comes after Binance applied for a license from the CBB as part of its plans to become a fully-regulated centralised cryptocurrency exchange.”

The same blog post noted that the move from CBB is making the first regulator in the Middle East North Africa (MENA) region to grant an in-principle approval to a Binance entity.

The official notes also revealed this:

“The in-principle approval from CBB still requires Binance to complete the full application process, which is expected to be completed in due course.”

Stay tuned for more exciting news from the crypto space.