Binance Labs, the venture arm of the world’s leading cryptocurrency exchange Binance, has announced its investments in five promising projects as part of its fifth “incubation” season. Selected projects cover various areas of Web3 including DeFi, infrastructure, tools and middleware. Here are the details…
What projects does Binance invest in?
One of the projects, zkPass, aims to provide a decentralized, privacy-preserving authentication solution for Web3 applications. Built on multi-party computing (MPC) and zero-knowledge proof (ZKP) technologies, zkPass leverages the latest cryptographic techniques to provide secure and privacy-enhanced authentication across the Web3 ecosystem.
Another startup, Mind Network, has developed a fully cryptic network that protects user data, smart contracts, and artificial intelligence on the Web3. It is built on a proprietary framework called Adaptive Full Homomorphic Encryption (FHE). Mind Network serves as a decentralized, privacy-protecting data repository offering encrypted high-performance pay-as-you-go data storage and computing.
A project aimed at simplifying Web3 finance for users worldwide, Kryptoskatt offers a comprehensive set of solutions that include accounting, portfolio management and tax reporting. With support for over 2,000 DeFi protocols, 100+ exchanges and wallets, and 50+ Blockchain integrations, Kryptoskatt serves as a one-stop shop for all Web3 financial needs.
Borsa İstanbul provides mentorship and resources to projects
Another project supported by Binance Labs, Bracket Labs enables the creation of leveraged structured products on the Blockchain with a user-friendly interface and innovative adaptive pricing. Bracket Labs has launched BracketX.fi, a platform that helps traders quickly take advantage of market fluctuations in both sideways and trending market conditions.
A project focused on building operational protocols, DappOS aims to reduce the barrier to entry to Web3 by creating solutions that increase the usability and accessibility of Web3 applications. By addressing these challenges, DappOS contributes to the wider adoption and use of Web3 technologies.
Binance Labs continues to support innovative projects that enable the Web3 ecosystem to grow and evolve. Through its incubation program, Binance Labs provides funding, mentorship and resources to help promising startups and entrepreneurs turn their ideas into reality. As the cryptocurrency and blockchain industries continue to evolve, Binance Labs plays a pivotal role in fostering innovation and pushing the boundaries of what is possible in the Web3 space. With its investments in these five projects, Binance Labs reinforces its commitment to supporting the next generation of disruptive technologies and solutions.
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