Binance, the world’s largest cryptocurrency exchange, announced that it has made a strategic investment in hardware wallet provider NGRAVE. Binance will also lead NGRAVE’s recent funding round.
In the blog post shared by Binance, Binance’s venture capital arm Binance Labs via hardware wallet generator to NGRAVE A strategic investment has been announced. Also, Binance Labs is in the upcoming Series A funding round. to NGRAVE He also stated that he will lead.
NGRAVE, which offers high security and fast performance, in Belgium in 2018 was established. Offering a cold wallet (aka hardware wallet) service, the company offers a touchscreen wallet, real-time blockchain connectivity and LIQUID It is seen as a competitor to other companies in the market thanks to its handy mobile application.
Binance Co-Founder and President of Binance Labs Yi He He made the following statement about the investment in question:
Security remains one of the biggest barriers to cryptocurrency adoption. Self-entrusted wallets are one of the most secure ways to store digital assets, and with our investment in NGRAVE, we want to continue to support innovative initiatives that improve user security.
FTX attack Afterwards, confidence in centralized exchanges decreased and cold wallet sales exploded. This situation pushes market-leading companies such as Binance to make strategic moves towards hardware wallet manufacturers.