HomeNEWSBinance Labs launches strategic investment in Delphinus

Binance Labs launches strategic investment in Delphinus


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In a Monday blog post, Binance Lab, the Venture Capital of Binance unveiled its strategic investment in Delphinus Lab. With the investment, the firm wants to foster the next era of web3 apps. It is worthy of note that Delphinus Lab is an infrastructure provider, overseeing the zkWASM space.

Meanwhile, Delphinus wants to invest a part of the fund in its zkWASM-based application rollup platform, identified as zkWASM Hub. This solution delivers automated batching services for Web3 application development. Through the investment, Binance aims to grow the ecosystem of Web3 dApps.

Meanwhile, Binance Co-Founder and Head of Binance Labs, Yi He gave an insight into the investment in Delphinus Lab. According to He, the implementation of Delphinus Lab zkWASM solution will onboard web2 developers into web3. He further that Binance Labs is determined to support projects that avail significant growth to the emerging sphere. According to He, Delpinus lab will lead the narrative and bring web3 applications to a wider audience.

Similarly, Founder and CEO of Deliphinus Lab, Sinka Gao said he looks forward to the adoption of WASM-based applications. Gao described zkWASM Hub as a streamlined multi-chain execution layer. According to him, this solution allows developers to effortlessly deploy and organize their WASM-backed apps in a dynamic rollup environment.

Recent Investments by Binance

Worth noting that this development comes a few months after Binance Labs invested in a South Korean gaming firm, GOMBLE. In the announcement, Binance Labs said the the gaming firm would invest the funds into the release of its inaugural mobile game, RumbyStars. Likewise, GOMBLE leveraged the funding to expand its gaming platform.

In Late 2022, Binance Labs also unveiled a private investment in Goplus, a security infrastructural firm. Notably, the venture was geared towards availing users with user-friendly security solutions through the platform. As a security infrastructure, Goplus usually examine various blockchain networks and their multidimensional risk detection mechanisms to build a safer web3 environment.

Similarly, Binance Labs also invested in NGRAVE, a hardware wallet maker. As revealed, the strategic investment came alive to drive crypto self-custody. NGRAVE is popular as the first firm to offer such offering.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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