Binance Labs invests $ 10 million in the Defi protocol Radiant Capital

• The strategic investment of Binance Labs in Radiant Capital will help to expand its product to further EVM chains.
• The price of the native token rdnt from Radiantt rose by 10 %.

Binance Labs, the risk capital branch of the world's leading crypto exchange Binance has invested $ 10 million in the decentralized crypto loan Radiant Capital (RDNT).

The Radiant credit and credit protocol is based on Layerzero, one of the portfolio companies of Binance Labs.

Radiant wants to use funds to expand its defi product

according to a Announcement Von Binance continues the strategic financing round for Binance Labs for crypto innovations, including the support of chain-independent defect projects of the next generation.

radiant brings this goal to the market by taking over the fragmented liquidity that contains the defi ecosystem. The platform promotes this by enabling users to use bridge innovation to take out loans and loans across every chain.

" Binance Labs actively searches for promising defi projects that not only advance the industry, but also postpone the limits of innovation. The commitment of Radiant Capital, seamless cross-chain transactions for Defi, and the performance on Arbitrum and BNB Chain show his potential, the mass acceptance To drive forward ", said Binance co-founder and head of Binance Labs Yi He.

reported as a coin journal today today Binance has published a half -year report for the crypto industry in which the stock exchange emphasizes growth in the past six months. One of the areas in which there is a clear growth is defi.

The Radiant team says that the financing takes place at a crucial time because the platform wants to extend its product to further EVM chains. This will increase the traction of Arbitrum and the BNB chain, whereby the protocol is expected to be one of the best Best Defi platforms in the world.

It is expected that growth will include the expansion of oracle support, collateral, cross liquidations and abstract repayments. The provision in Ethereum-Minnet and complete integration with the messaging support of Layerzero.

is also of crucial importance for product development.

radiant assumes that the developments will lead to the next 100 million users use Defi and will benefit from it. To this milestone, George Macallan, founder of Radiant Capital, said that the partnership with Binance Labs enables its platform to benefit from Binance's "extensive expertise, resources and strategic support".

" Your investment will play a crucial role in leading radiant to new heights, since the protocol is extended to new chains, further scaled and the benefits are returned to the ecosystem ," he added.

The native token rdnt from radiant reacted positively to the news and its value rose by 10 % to almost $ 0.32