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
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
