Palo Alto, California-based Aptos Labs has quadrupled its valuation since March, after Binance Labs—the venture capital arm and accelerator of Binance—made a new, undisclosed strategic investment in the Web3 infrastructure firm.
The follow-on investment was announced by Binance Labs in a blog post. It did not disclose the amount of the follow-on investment, but a Bloomberg report said the new money gives Aptos a valuation of more than $4 billion.
Binance Labs specifically noted Aptos’ use of the programming language Move to build its blockchain as part of the reason for the investing arm’s interest in the startup. Move is said to allow for faster transaction execution and a safer user experience.
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“We believe that the technological competitiveness of the Aptos team could bring increased scalability to the blockchain infrastructure while also supporting novel...
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