Binance Labs is the venture capital and incubator of popular exchange Binance. Apart from Binance Labs, the investment round also saw the likes of PAKA Ventures, HashKey, LongHash, and Digital Finance Group.
The investment in Plasm Network is the first under Binance Lab’s initiative to support innovative projects in the Polkadot ecosystem. $10 million has been earmarked for this purpose. Consequently, the raised funds will be channeled towards expanding Plasm Network’s resources and business development, connecting the Polkadot and Binance communities, and accelerating research and development.
Speaking on the recent development, Wei Zhou, Head of Binance Labs said:
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Source: Cryptocurrency - investing.com
