Binance Labs leads $ 60 million on Multichain (Anyswap)
Binance Labs, Binance’s venture arm, recently led a $ 60 million financing round for Multichain, formerly known as Anyswap, an industry-leading cross-chain protocol.
Multichain provides the connection infrastructure for many mainstream public blockchains including Ethereum, Binance Smart Chain, Avalanche, Moonriver, etc. The Total Locked Value (TVL) on Multichain is currently over $ 5 billion, there are over 300,000 users with around 1,000 crypto -Assets that circulate between them on different mainnets.
“Multichain is now a cross-chain infrastructure that connects more public blockchains and cryptocurrencies than anyone, with lower transaction fees, shorter connection times and levels,” said Zhaojun, co-founder of Multichain. In line with our plan to improve Web3, Multichain will integrate the NFT Cross-Chain Bridge and our new anyCall solution for cross-chain contract calls, supporting NFT and DeFi in the cross-chain ecosystem. ”
Bill Chin, Head of Investments at Binance Labs, said, “Binance Labs is investing in disruptive innovations that have incredible potential to shape the crypto landscape, which is why we absolutely love it. Support Multichain”.
In addition to financial support from BNB Labs, Multichain is also building a stronger partnership with Binance Smart Chain (BSC). BSC will promote Multichain as one of the proposed bridges and support Multichain to connect bToken across chains.
This money will be used to develop multichain teams and ecosystems. This includes expanding the R&D team, specifically the crypto algorithm research team, the security testing team and the services team helping new users and the blockchain ecosystem integrate with Multichain.