Coin98 will produce DeFi products through Binance Labs’ strategic investment to contribute to DeFi infrastructure on Binance Smart Chain (BSC).
Binance Labs Investment set to Boost BSC Growth
The venture capital and innovation capital of Binance, Binance Labs has announced its strategic investment with Coin98’s all-in-one Decentralized Finance (DeFi) platform to promote the protocol’s development on Binance Smart Chain (BSC) and expand the BSC ecosystem.
The investment will accelerate the growth of the Coin98 platform and will contribute to the DeFi infrastructure on the BSC ecosystem. With this in mind, Binance Labs will provide the Coin98 team with the required technologies, consultation, and incubation services to build various DeFi infrastructures.
“Through the strategic investment from @BinanceLabs, Coin98 will accelerate the platform’s development and contribute to the @BinanceChain Ecosystem by building various DeFi infrastructures,” Coin98 tweeted about the investment on January 5th.
The various DeFi infrastructures include a Non-fungible Token (NFT) marketplace, token launch platform, AMM on Binance Smart Chain, and ensuring that DeFi on BSC is available to anyone.
Excitement Builds on BSC
Speaking on the strategic investment, the Head of Binance Labs Fund, Bill Chin, was optimistic about Coin98’s contribution to the BSC ecosystem. Also, BSC enthusiasts should be excited about the investment deal.
“We hope that Coin98 can contribute to the development of DeFi within the BSC ecosystem through the strategic investment. There are many features that we are looking forward to seeing that Coin98 is coming up with, and we think that the users of the BSC ecosystem will be excited about these too,” Bill Chin said on Binance Blog.
Coin98 founder Thanh Le also offered some worthwhile words about Binance Labs’ investment, adding that the Coin98 team is eager to deliver good products to the BSC ecosystem.
“Binance Smart Chain is the most used network on the Coin98 platform regarding active address and trading volume,” Thanh Le said. “With the upcoming BSC-based products, we can’t wait to drive these numbers even higher when having support from Binance Labs.”
The latest development suggests that BSC lovers should be excited about the strategic investment. In addition, it also shows that Binance Labs is always committed to supporting good teams who impact the crypto space positively. Moving forward, we anticipate Coin98’s upcoming BSC products made possible by Binance Labs’ strategic investment.
What is Coin98?
Coin98 is a one-stop platform for users to access the DeFi ecosystem, such as Decentralized Exchanges (DEX), lending protocols, on-chain governance, blockchain-based games, and cross-chain transfer on over twenty networks such as Binance Smart Chain, Solana, Ethereum, Avalanche, and more.
Source: BSC News
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