Binance Labs, the venture capital arm of the world’s biggest cryptocurrency exchange, is increasing its investment in Aptos Labs, a blockchain startup founded by former Meta Platforms Inc. employees who worked on the company’s failed Diem stablecoin project.
Binance Labs chose to add to its investment in Aptos in part because of the programming language the company is using to build its blockchain, according Yi He, co-founder of Binance and the head of Binance Labs. Called Move, the language was supposed to power the Diem blockchain, and “is different from BNB Chain and Solana and is more efficient and secure,” He said in an interview in Paris.
“It is an opportunity to build the future,” she said. Aptos declined to comment on the new funding.
Binance announced its first investment in Aptos Labs in March. The Palo Alto, California-based company had recently raised $200 million at a more than $1 billion valuation from investors that included Andreessen Horowitz, Multicoin Capital and...
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