Binance makes additional investment in Aptos . protocol

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2022-09-18 08:12:48

Recently, Binance has made an additional investment in Aptos – a blockchain protocol that has attracted a lot of attention recently.

Binance Labs decided to put money into start-up Aptos for the second time

Last night (September 15), posted on the official website, Binance Labs – the investment fund behind the world’s leading cryptocurrency exchange Binance announced that it had poured an additional investment into Aptos Labs – the Blockchain developer Aptos. The specific number was not disclosed by Binance.

Both sides believe that the agreement will increase cohesion, benefit Binance and Aptos in particular, as well as continue the development of the Web3 field and the crypto industry in general.

At the beginning of this year, March 2022, Binance Labs also invested in Aptos after an impressive fundraising of up to 200 million USD, with the participation of PayPal and a series of famous funds.

By last July, Aptos continued to raise another 150 million USD. Currently, names on the list of funds backing this blockchain protocol include a16z, FTX Ventures, Binance Labs, Coinbase Ventures, Paxos, Jump Crypto, Multicoin Capital, and Circle Ventures.

Aptos representative said that the new raised money will serve the purpose of expanding the development team and building more products for the ecosystem.

As previously reported, Aptos was co-founded by former strategic partner leader of Meta (Facebook’s parent company) Mo Shaikh and technology leader Avery Ching. Blockchain Aptos emerged after the collapse of Facebook’s Diem stablecoin project. The two men left the company in December 2021 before the Diem group was sold to Silvergate Capital in February 2022.

Leveraging the Move programming language made by Facebook specifically for Diem, Aptos promises to create a platform that can overcome the inadequacies of scale, transaction speed and security issues that many other blockchains are facing. .

Besides Aptos, a blockchain that also emerged from the “remnants” of the stablecoin Diem is Sui, last August the project successfully raised 300 million USD. Similarly, Sui also uses the Move programming language and has a development direction similar to Aptos.

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