Share this article
Binance Invests $12M in Liquidity Platform WOO Network
WOO had raised $30 million in November.
By Brandy Betz
Updated May 11, 2023, 4:06 p.m. Published Jan 4, 2022, 8:00 a.m.
The venture capital arm of Binance, the world’s largest crypto exchange by trading volume, announced a $12 million strategic investment in WOO Network, a liquidity platform that connects users to exchanges, institutions and decentralized finance (DeFi) networks.
- “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],” Peter Huo, Binance Labs investment director, said in a press release.
- WOO Network provides liquidity to more than 40 institutions, exchanges, trading teams, wallets and decentralized applications. 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.
- Last year, WOO Network began providing liquidity on Binance Smart Chain with the launch of WOOFi Swap, which uses the liquidity network and institutional market-making techniques to improve pricing and reduce slippage. WOO also provides liquidity to other decentralized protocols such as DYDX, Matcha, ParaSwap, 1inch and DODO.
- WOO Network closed a $30 million Series A fundraising round in November that included investments from Avalanche, BitTorrent, Crypto.com Capital and Three Arrows Capital.
- Founded in 2017, Binance Labs tends to make early-stage investments in companies such as hackathon organizer DoraHacks and interoperability startup LayerZero, but the investor and incubator has also participated in later, larger funding rounds, such as the recent $110 million Series C fundraising round for crypto staking firm Figment that was led by investment firm Thoma Bravo.
- The price for the project’s WOO tokens were up 10% over the past 24 hours, nearing a market capitalization of $1 billion, as of 11:52 coordinated universal time (6:52 a.m. ET), according to CoinGecko.
Read more: Crypto Exchange WOO Network Closes $30M Series A
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
