Binance’s VC firm has strategically invested in a startup blockchain network created by former devs of Facebook’s defunct project Diem.
Based on the official blog post, Binance Labs will help Aptos "accelerate adoption of the decentralized ecosystem" by giving expert knowledge on creating a sustainable infrastructure, and overseeing the operations handled by the development group.
Even though the team behind Aptos is quite experienced considering its earlier project, with the investment, Aptos Labs will be expanding its team, and will be looking to build upon Binance Labs values of "changing the industry" and building a sustainable product.
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Head of Binance Labs Bill Qian spoke on the strategic investment, highlighting the importance of creating a fully functional and scalable blockchain network. He stated:
"We believe in the same vision that Aptos sees - building a more reliable and scalable blockchain for everybody. Eventually, the blockchain that can be used by the masses will be able to drive mass adoption of users in a wide variety of applications and accelerate technological and business innovation in those fields. Users can expect a secure and seamless experience of blockchains."
Likewise, according to Jeffrey Ma, who is the Investment Director of Binance Labs, he believes that Aptos "can contribute to bringing 100 million users to the crypto space with the mission to create universal and fair access to decentralized assets for billions of people."
