Multichain closes $60 million seed round with participation from Binance Labs

Multichain closes $60 million seed round with participation from Binance Labs
фото показано с : coinjournal.net

2021-12-21 15:15

The funding round comes a few days after the protocol rebranded from Anyswap

Newly-rebranded cross-chain protocol today wrapped up its seed round, raising $60 million. The funding featured several names, including Binance Labs, the venture capital subsidiary of cryptocurrency, and NFT marketplace Binance. 

Binance Labs investment director Peter Huo hailed Multichain, describing it as “a key contributor to the multi-chain future for crypto.”

Other venture capital firms that took part in the round include IDG Capital, Primitive Ventures, Three Arrows Capital, DeFiance Capital, and Circle Ventures. China-based capital market company Sequoia China also had a hand in the fundraising.

Multichain was launched mid-last year as a cross-chain decentralised platform called Anyswap. The project has since morphed into a cross-chain router protocol, officially taking the name Multichain last week. At the time of the announcement, the total value locked on the protocol was north of $5 billion. The protocol currently serves about 300,000 users, with this figure projected to continue growing.

Forging closer ties

It is worth noting that Binance’s input into the firm stretches beyond capital injection. The crypto exchange is looking to cultivate a good relationship with the protocol outside the investment. On Monday, the Binance Smart Chain promoted the cross-chain protocol as a recommended tool to move crypto-assets between blockchains.

The capital raised through the seed round will be directed toward developing the ecosystem and helping its teams see more growth through new hires. The firm specifically pinpointed the research and development teams as some of those that will benefit from the acquired funds.

Binance VC arm has incubated more than 100 projects

Binance Labs has made a number of moves to promote blockchain projects over the last few weeks. On November 23, the venture capital arm launched the third season of its incubation program. The program aims to support potential projects from various parts of the world. 

The nine (chosen from the latest edition of the Incubation Program) names involved in the program are play-to-earn game Block Ape Scissors, hedging protocol Tranching, decentralised oracle Bird, bridge protocol Raydius, gaming web GAT Network, Mint Club, DeFi farming protocol Copycat Finance, multi-chain stable swap project Wombat, and blockchain gaming studio SkyArk.

In a December 12th interview with CryptoPotato, Binance Labs director Chase Guo disclosed that the venture capital arm had supported more than 100 projects since it was launched about three years. Outside blockchain, the innovation incubation division spearheaded a $1.5 million seed round for decentralized Web3.0 public network Bulletin Board System (BBS) at the beginning of December. It also joined the League of Kingdoms table as a strategic investor at the end of last week. 

The post Multichain closes $60 million seed round with participation from Binance Labs appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

RoundCoin (ROUND) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ROUND

round multichain participation labs binance million closes

round multichain → Результатов: 9


Кроссчейн-протокол Multichain привлек $60 млн от Binance Labs, Circle Ventures и Tron Foundation

Binance Labs возглавила раунд финансирования кроссчейн-протокола Multichain (ранее Anyswap), который привлек $60 млн инвестиций. 📢 Major Announcement #Multichain (previously Anyswap) raises a $60M financing round led by Binance Labs @BinanceLabs @BinanceChainWe look forward to having long-standing and deep cooperation with all supporters to achieve the common vision for #web3https://t.

2021-12-21 11:58


Фото:

Non-Custodial Multichain Identity Wallet Safle Raises $4M Ahead Of IDO

The non-custodial wallet developer Safle is well on its way to putting digital identities back into the hands of users after closing on a $4 million private funding round today.  MapleBlock, GSR, Sanctum and Ghaf Capital Partners were all involved in today’s round, which saw participation from a host of individual backers too, including Frontier […]

2021-12-10 17:30


Фото:

Multichain ID wallet Safle raises $4M in private funding round

Safle, a next-gen blockchain infrastructure provider and multichain identity wallet has raised over $4 million in a round led by GSR, MapleBlock, GSR, Ghaf Capital Partners, and Sanctum with involvement from Momentum6, NFT Tech, Sanctum Ventures, AU21 Capital, New Tribe Capital and Tony G, Lithuanian poker player and businessman, Invezz learned from a press release.

2021-12-10 17:00


Фото:

Ethereum-проект Connext привлек $2,2 млн от Huobi и Polychain Capital

Сфокусированный на интероперабельности блокчейнов проект Connext привлек $2,2 млн посевных инвестиций. Incredibly excited to announce our $2. 2m seed round from @polychaincap, @1kxnetwork, and @HuobiGlobal! 💥 Multichain Ethereum is just getting started.

2021-3-24 12:27