Binance Invests In Multic DeFi Protocol …

Binance Invests In Multic DeFi Protocol … post thumbnail image

The developers plan to continue close cooperation with investors.

The DeFi Multichain protocol, previously marketed as Anyswap, has raised a $60 million investment. Information about this appears on the project blog.

  • Investment Round Multichain leads the venture division of popular crypto exchange Binance – Binance Labs. Company representatives explained their interest in the project to those whose team created tools for the future of the crypto industry.

“We are excited to deepen our partnership with Multichain and work with the project team to build the future in their shared vision,” Binance Labs commented on the investment in the DeFi protocol.

  • Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures, and HashKey are also funding the project.
  • Against the backdrop of the successful completion of the investment round, Multichain’s valuation stands at $1.2 billion.
  • The developer draws attention to the fact that all investors will take part in the project, the task of which is to define a common vision of the web development opportunity3.
  • The Multichain team builds infrastructure for various blockchains including Ethereum, Binance Smart Chain (BSC), and Avalanche. The developers refer to this project as a “bridge”. With its help, among other things, you can move assets between blockchains. More than 300 thousand people use Multichain services.
  • As of this writing, nearly $5 billion of assets have been blocked for protocol requirements.
Blocked asset volume for Multichain needs. Source: defilama.com

We will remind you, recently that information emerged on the network that Binance is in business negotiations with the richest family in Indonesia.

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