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Binance Labs Invest $10M in Radiant Capital To Support Expansion to Other Chains
Radiant Capital, a DeFi lending protocol, will benefit from a $10 million investment from Binance Labs to make it simpler for consumers to lend or borrow money across several blockchains.
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Binance Labs Invest $10M in Radiant Capital
Radiant Capital, a DeFi lending protocol, will benefit from a $10 million investment from Binance Labs to make it simpler for consumers to lend or borrow money across several blockchains.
The funds will be used by Radiant Capital, which is already based on LayerZero Labs, a business funded by Binance, to carry out its goal to expand its capacity to other blockchains.
The aim is to be “chain-agnostic,” which means launching on any EVM-compatible chain that receives a majority vote from the DAO. Currently, Radiant supports ten different types of digital assets, including stablecoins like USDC as well as tokens like ETH and ARB.
Up to 20 additional assets that the DAO deems secure will be supported after the new investments arrive on the mainnet.
The Ethereum Virtual Machine is a virtual setting that enables many chains backed by smart contracts to connect with one another. Similar bridge initiatives have received prior backing from Binance Labs, such as the creation of Cosmos Labs’ Neutron platform.
