Binance Invests in Aptos Labs

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The venture capital arm of Binance has recently announced it has made a strategic investment in Aptos Labs, a startup created by former Meta employees.

The company will reportedly use the funds to create a “secure and scalable blockchain”, expand the staff and develop the project infrastructure.

Yi He, head of Binance Labs, has said:

“We are confident that the technological competitiveness of the Aptos team will increase the scalability of the blockchain infrastructure, as well as support new Web3 use cases.”

The amount of the transaction remains unknown.

Aptos raised in March $200 million in an investment round led by Andreessen Horowitz.