Binance Labs, the innovation and venture capital arm of digital exchange 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 .
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.
