Binance Labs Makes Investment in Aptos Labs

A16z crypto recently led a $200 million strategic round of funding for the project.

This investment aims to accelerate the decentralized ecosystem's adoption.

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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, Investment Director at Binance Labs, commented.

Moreover, Bill Qian, 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.