Binance Labs Made Strategic Investment In Hardware Wallet Maker NGRAVE

Binance Labs announced it has made a strategic investment in hardware wallet maker NGRAVE, and will lead its upcoming Series A round.

NGRAVE wants to provide crypto users with simple security options. Its offerings include GRAPHENE, an encrypted and recoverable key backup, LIQUID, a mobile app, and ZERO, a connectionless hardware wallet with EAL7 security certification.

NGRAVE’s CEO, who also served as the company’s co-founder, asserts that his business has avoided the drawbacks of current-generation mnemonic crypto wallets, which are quite popular. They will be made available to institutional and retail cryptocurrency investors alike.

Yi He, Co-Founder of Binance and Head of Binance Labs, stated:

“Security remains one of the biggest hurdles for crypto adoption. Self-custodial wallets are one of the most secure methods for storing digital assets and through our investment in NGRAVE, we are looking to continue backing innovative startups that enhance user security.”

Binance and Ledger, a manufacturer of hardware wallets, partnered in early November to enable Binance users to send cryptocurrency through Ledger directly using their bank cards.

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