Binance Labs, Binance’s venture capital and incubation arm, has managed the last $60 million funding round for Multicain (formerly known as Anyswap), a cross-chain protocol. After this news, the price of Anyswap’s altcoin project ANY rose from $ 22 to $ 27.61. cryptocoin.com We are giving the details as…
Binance Labs led investment round in altcoin project
Multichain, known as Anyswap until recently; Ethereum is building the infrastructure for a number of blockchains, including Binance Smart Chain (BSC) and Avalanche. The protocol has more than $5 billion in total locked value (TVL) and currently has over 300,000 users. Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures and HashKey participated in the round along with Binance Labs. Peter Huo, Binance Labs investment director, used the following statements:
Multichain is an important contributor to the multi-chain future for crypto. We are excited to deepen our partnership with Multichain and work closely with the team to create our shared vision.
In addition to the financial backing from Binance Labs, Multichain is building a stronger partnership with BSC. BSC will promote Multichain as one of its proposed bridges. Meanwhile, it will support Multichain to bridge bToken between networks and explore deeper technology and liquidity integrations with Multichain. This money will be used to help develop Multichain teams and ecosystems. After the announcement, the ANY token went up to $ 27.36. At the time of writing, it has been withdrawn to $22.9.
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