Binance Labs Makes Investment in Aptos Labs

Binance Labs, the innovation and venture capital arm of digital exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Binance, announced on Monday that it invested in Aptos Labs, a Layer 1 blockchain built by some of the original creators of the Diem blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term.

According to the press release, the strategic investment is intended to accelerate the adoption of the decentralized ecosystem. In order to build the Aptos ecosystem, Aptos and Binance will collaborate closely on development, code reviews, infrastructure building and hackathons.

As part of its latest round of funding, the project received $200 million from a16z crypto, Multicoin Capital, Katie Haun, 3 Arrows Capital, ParaFi Capital, IRONGREY, Hashed, Variant, Tiger Global, BlockTower, FTX Ventures, Paxos and Coinbase Ventures.

“In that perspective, Aptos can contribute to bringing 100 million users to the crypto space with the mission to create universal and fair access to decentralized assets for billions of people. We also believe in the expertise that the Aptos Labs team has developed through building the Diem project,” Jeffrey Ma, the Investment Director at Binance Labs, commented.

Moreover, Bill Qian, the Head of Binance Labs, issued the following statement on the investment: “We believe in the same vision that Aptos sees, building a more reliable and scalable blockchain for everybody. Eventually, the blockchain that can be used by the masses will be able to drive mass adoption of users in a wide variety of applications and accelerate technological and business innovation in those fields. Users can expect a secure and seamless experience of blockchains.”

Ultiverse Investment

Recently, Binance Labs led the seed round of Ultiverse. In addition, Binance Labs is planning to enhance Metaverse offerings in the BNB chain ecosystem through the recent investment.

Ultiverse mentioned that the company will utilize the funds to develop the product, attract top talent and facilitate the growth of the community. Additionally, the seed investment will facilitate Ultiverse to expand its operations.