Binance X, a developer-focused initiative at global cryptocurrency exchange Binance, has just announced it has made an investment in Furucombo, one of the most comprehensive decentralized finance (DeFi) aggregators in the world, according to a press release shared with iHodl.
The investment, whose amount has not been disclosed, aims at enhancing the decentralized finance ecosystem by enabling easy DeFi loan and trading experiences.
Furucombo’s all-inclusive platform wraps up transactions into ‘combos’ executed by a single smart contract, which helps mitigate the risk of lending and borrowing by removing the need to jump between multiple platforms.
Flash loans, which allow users to lend and borrow cryptocurrencies on a small amount of interest, is a new type of financial instrument that enables anyone to lend and borrow while the risk is mitigated in a smart contract.
Furucombo’s drag and drop tool allows users to set up custom DeFi combinations, also known as "combos," that are bundled together into a single transaction.
Furucombo’s no-code tool is suitable for all levels of DeFi users interested in optimizing their DeFi strategy.
This recent investment made by a centralized exchange like Binance shows the growing demand for decentralized products and infrastructure globally.