Radiant is the third largest lending protocol on Arbitrum.
Binance’s venture capital and incubation arm, Binance Labs, has announced investing $10 million in LayerZero Labs-based lending and borrowing protocol, Radiant Capital.
The capital raised in the strategic funding round will be deployed to tech and product development to expand on oracle support, collateral expansion, Ethereum mainnet deployment, cross-chain liquidations, dual-emissions support, abstracted repayments, and full LayerZero messaging support., the company believes that these developments will aid in bringing the next 100 million users into decentralized finance .
The latest capital infusion is expected to help Radiant expand to numerous EVM chains in a bid to eliminate the need for countless transactions to conduct lending, borrowing, bridging, and swapping between chains.“Radiant Capital’s commitment to facilitating seamless cross-chain transactions for DeFi, and performance on Arbitrum and BNB Chain demonstrates its potential for driving mass adoption. We look forward to seeing Radiant’s continued growth and further contributions to the ecosystem.
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