- Binance’s venture capital arm said in a statement today that altcoinHe stated that he has increased his investment in
Binance’s venture capital arm and incubator platform Binance Labsis a next-generation layer-1 blockchain built with security and user experience in mind. To Aptos Labs (APT) announced a strategic investment. This investment is said to be a follow-up investment following the first funding round announced in March this year, further expanding Binance Labs’ “commitment to building infrastructure.”
Binance previously announced that earlier this year, Aptos Labs FTX Ventures and Jump Crypto and participated in a $50 million funding round led by Aptos Labs, which raised the valuation of Aptos Labs up to $4 billion. It is not yet clear how big Binance’s latest investment is.
Aptos, an altcoin project founded by former Facebook employees, is Facebook’s defunct Diem stablecoin It is a platform that builds a layer-1 blockchain using parts of the technology built for the project. The platform is gearing up for a mainnet launch later this year, and until then decentralized finance (DeFi) trying to get developers attention.
Speaking on the subject, Binance Co-Founder and Binance Labs President Yi He said about the cooperation:
“We are excited to collaborate with the Aptos team. Binance has always believed in the power of blockchain technology, like the Internet, to benefit the masses. We believe the technological competitiveness of the Aptos team can bring greater scalability to the blockchain infrastructure while supporting new use cases for Web3.”
Aptos will use the funds raised to expand the team and support the development of its innovative layer-1 infrastructure to continue building a secure and scalable blockchain. The team will also create ecosystem initiatives and tools to help the Aptos community grow.
Sharing the same excitement, Aptos CEO Mo Shaikh said:Aptos is inherently designed to address today’s key challenges of mainstream Web3 adoption.” said and said:
“Our goal is to deliver the most performing, production-ready blockchain through a flexible, modular architecture built for human usability first and designed for upgrade and development.
The continued strategic support of the Binance Labs team is helping us further strengthen our ecosystem to build next-generation apps that solve current consumer challenges and future challenges.”
Since 2018, Binance Labs has invested in more than 200 projects from over 25 countries and has proven time and time again to be an excellent platform for new projects with a future.
Polygon (MATIC), Perpetual Protocol, Dune Analytics etc. Binance Labs, which includes platforms, has previously invested in approximately 50 Web3-specific target projects through the Incubation Program. Polygon (MATIC)is another prominent example of how the incubation platform is helping small crypto startups become the giants of tomorrow.
Aptos is a platform that plans to build a secure and production-ready layer-1 blockchain. With a team of highly successful creators, researchers, designers and developers, Aptos is committed to providing universal and equitable access to decentralized solutions and services for billions of people.
Aptos’ breakthrough layer-1 technology and programming language Move is designed to develop and improve reliability and performance over time. The solution also aims to strengthen security and make it significantly easier for developers to build scalable and user-friendly applications.
Aptos has been developing its blockchain with over 350 developers deployed worldwide over the past three years. Designed to be upgradeable, the platform is constantly evolving to support current and emerging Web3 use cases. Aptos creates a home for the world’s most innovative developers to build future-proof applications at scale.
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