Venture arm of the Binance bitcoin exchange invested in the five “best performing projects” in the fifth season of its incubation program.
Selected startups include:
- Bracket Labs. A project that creates structured on-chain products using borrowed funds. The main direction of the company is the BracketX.fi trading platform;
- DappOS. A protocol for reducing entry barriers to Web3 through solutions that improve application usability and accessibility;
- Cryptoskatt. A company to simplify the use of Web3-finance through a comprehensive set of solutions, including accounting, portfolio management and tax reporting. The project supports over 2000 DeFi protocols, 100 exchanges and 50 blockchains;
- mind network. A fully encrypted network built on the Adaptive Fully Homomorphic Encryption platform. It is used as a decentralized confidential data store;
This season of the investment program, more than 900 companies applied and only 2% of them were allowed to participate.
“Binance Labs remains committed to empowering early-stage startups that drive the industry forward. We look forward to the positive impact of Season 5 incubation projects on the broader Web3 ecosystem,” said Yibo Ling, Director of Business Development for the platform.
Binance also announced the start of accepting applications for participation in a future venture round.
Recall that as of the end of the first quarter of 2023, assets under management of the investment division of the exchange were estimated at $9 billion.
In November 2022, Binance Labs committed $1 billion to the Web3 Recovery Fund. Ling said that since that moment the structure has provided funding to 14 companies, about 60 more candidates are under consideration.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Venture arm of the Binance bitcoin exchange invested in the five “best performing projects” in the fifth season of its incubation program.
Selected startups include:
- Bracket Labs. A project that creates structured on-chain products using borrowed funds. The main direction of the company is the BracketX.fi trading platform;
- DappOS. A protocol for reducing entry barriers to Web3 through solutions that improve application usability and accessibility;
- Cryptoskatt. A company to simplify the use of Web3-finance through a comprehensive set of solutions, including accounting, portfolio management and tax reporting. The project supports over 2000 DeFi protocols, 100 exchanges and 50 blockchains;
- mind network. A fully encrypted network built on the Adaptive Fully Homomorphic Encryption platform. It is used as a decentralized confidential data store;
This season of the investment program, more than 900 companies applied and only 2% of them were allowed to participate.
“Binance Labs remains committed to empowering early-stage startups that drive the industry forward. We look forward to the positive impact of Season 5 incubation projects on the broader Web3 ecosystem,” said Yibo Ling, Director of Business Development for the platform.
Binance also announced the start of accepting applications for participation in a future venture round.
Recall that as of the end of the first quarter of 2023, assets under management of the investment division of the exchange were estimated at $9 billion.
In November 2022, Binance Labs committed $1 billion to the Web3 Recovery Fund. Ling said that since that moment the structure has provided funding to 14 companies, about 60 more candidates are under consideration.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!