Binance Labs Announces its Support for a Groundbreaking Blockchain Solution

Binance Labs, the investment division of Binance, has announced a major funding round for Particle Network, a company developing a transformative Layer 1 blockchain solution.

This investment aims to address blockchain fragmentation through Particle Network’s Universal Accounts feature.

The funding, part of a larger $25 million round, also saw participation from other prominent investors including Spartan Group, Gumi Crypto, SevenX Ventures, and Morningstar Ventures. This move reflects Binance Labs’ commitment to supporting projects that advance the Web3 ecosystem.

Particle Network’s approach involves their Chain Abstraction infrastructure, which includes Universal Accounts, Universal Liquidity, Universal Gas, and the Particle L1 chain.

READ MORE:

XRP Ledger to Launch Tokenized US Treasury Bills

The funds will be used to expand their team globally, enhance their blockchain technology, and prepare for the launch of their mainnet later this year.

In addition to this investment, Binance Labs has recently backed aPriori, a platform aimed at decentralizing the Monad blockchain and addressing issues like gas fees. This aligns with Binance Labs’ strategy of investing in projects that tackle key challenges within the blockchain sector.

Alexander Stefanov