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Binance Labs bought a stake in Layer-1 Aptos Chain

A project that wants to make the Layer 1 of its cryptocurrency safe and easy to use will be happy to have Binance Labs on board.

Aptos has been backed by Binance Labs

Binance Labs has made a big investment in Aptos Labs, a Layer 1 blockchain built by people who worked on the Diem blockchain.

The move was confirmed by the Binance blog on March 28, which said that the reason for the move was to speed up the decentralized world. Aptos and Binance will now work together to build a bigger ecosystem for cryptocurrency. They’ll work on development, code review, infrastructure, hackathons, and a lot more.

“We believe in the same vision that Aptos sees – building a more reliable and scalable blockchain for everybody,” Head of Binance Labs, Bill Qian stated. “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.”

With Aptos still a new project that wants to make the safest and most scalable Layer 1 possible, Binance’s help and advice will be priceless in this regard.

Binance Labs has been very clear about why it chooses projects for its portfolio. It wants to find projects that can “change the industry.” This can only be done by getting a lot of people to use it.

“In that perspective, 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”, said Jeffrey Ma, Investment Director at Binance Labs. He added, “We also believe in the expertise that the Aptos Labs team has developed through building the Diem project.”

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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