Binance Labs Makes Strategic Investment in Aptos Labs for the Industry Adoption Acceleration

March 29, 2022 - Around 2 mins mins to read

Binance Labs Makes Strategic Investment in Aptos Labs

Binance Labs, the venture capital arm and innovation incubator of Binance, made a strategic investment in Aptos Labs, a Layer 1 blockchain built by some of the original creators, researchers, designers, and builders of the Diem blockchain, to accelerate the adoption of the decentralized ecosystem.

Aptos and Binance will work closely together in growing the Aptos ecosystem through development, code review, infrastructure building, hackathons and much more – all to come soon.

As a new, independent project focused on delivering the safest and most scalable Layer 1 blockchain for everybody, Aptos is adding more builders and supporters of the team with the newly secured fund.

One of the values that Binance Labs sees in its future portfolio companies is ‘how can this project change the industry’ and ‘the number of people who will use the product when it is launched’. “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”, said Jeffrey Ma, Investment Director at Binance Labs. He added, “We also believe in the expertise that the Aptos Labs team has developed through building the Diem project.”

Bill Qian, Head of Binance Labs, said “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.”

The project has recently raised $200 million in a strategic round led by a16z crypto with the participation of Multicoin Capital, Katie Haun, Three Arrows Capital, ParaFi Capital, IRONGREY, Hashed, Variant, Tiger Global, BlockTower, FTX Ventures, Paxos, Coinbase Ventures, and more.

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Binance Labs Makes Strategic Investment in Aptos Labs for the Industry Adoption Acceleration