Investment from Binance Labs to support NGRAVE’s end-to-end security and protection products for crypto users.
Binance Labs Invests in NGRAVE
Binance Labs has made a strategic investment in NGRAVE and is confirmed to be leading the project’s initial Series A fund. The hardware wallet and blockchain and digital asset security company offers a robust security solution for crypto users.
In the spirit of promoting self-custody and security, Binance Labs confirmed the investment through a blog post on Nov. 11. The blog notes how NGRAVE boasts the highest security certification, Evaluation Assurance Level 7, and Binance Labs invested in order to optimize security options for crypto users.
“Hardware wallets are one of the most secure solutions for self-custody and digital asset storage, especially during volatile and turbulent markets,” said Tyler Z., Investment Director at Binance Labs. “NGRAVE’s premium product suite offers smooth and intuitive user experience, coupled with structured security innovations. Binance Labs is excited to capitalize on the emerging hardware wallet sector and partner with NGRAVE to bring sophisticated wallet products to both retail and institutional users.”
The Belgian-based hardware wallet offers a custom-made 3-tier security suite with high-quality security products. The tiered service offers full end-to-end protection from private key generation to backup recovery. No matter if users lose their keys, NGRAVE has them covered.
“We take a real end-to-end view on how users can protect their crypto. For example, when looking into existing key creation processes, we realized there were serious security gaps. So we reinvented the way keys are generated and also overcame the limitations of today’s widely used mnemonic wallets,” Ruben Merre, Co-Founder and CEO of NGRAVE, said in the blog.
What is Binance Labs:
As the venture capital arm and accelerator of Binance, Binance Labs is on the continued lookout for the next big Web3 innovation. Since 2018, Binance Labs has invested in more than 200 projects from 25 countries. It has also incubated more than 50 projects that are native to Web3 through the Binance Labs Incubation Program, including Polygon, Perpetual Protocol and Dune Analytics. As of August 2022, Binance Labs is the largest crypto VC in the industry by Asset Under Management (AuM) of $7.5 billion with a Multiple on Invested Capital (MOIC) of 21.0x.
Where to find Binance Labs:
What is NGRAVE:
NGRAVE is a digital asset security provider offering user-friendly maximum security solutions for blockchain and crypto use cases. Its flagship product — crypto hardware wallet “NGRAVE ZERO” — is the only financial product in the world that features the highest security certification: EAL7. NGRAVE is partnered with the world’s top tier in nano- and chip technology, cryptography, and hardware security and counts among its advisors several blockchain pioneers such as Jean-Jacques Quisquater, famous cryptography professor and second reference of the bitcoin paper.
Where to find NGRAVE:
Source : bsc.news
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