Binance The investment arm of the stock exchange continues to make frequent announcements. With the movement of cryptocurrency markets, the workload of stock exchange investment companies has also increased. Today’s announcement was about a project on the Solana network.
Project Invested in by Binance
Binance Labsinvested in Perena, the first stablecoin infrastructure protocol on Solana. The investment in Quine Co, the company behind the protocol, is focused on RWA. Thanks to the protocol, users can mint stablecoins or tokenize assets on the Solana network. We have seen many initiatives in the RWA space to bridge the gap between banking and decentralized finance.
However solana This seems much more interesting in a network like this, which stands out with its speed and low fees. Perena recently launched Numeraire, the first weighted multi-token expandable stableswap that does not require active concentrated liquidity market maker (CLMM) management, significantly optimizing capital requirements for new stablecoin launches.
Max Coniglio from Binance Labs said;
“Binance Labs continues to provide ongoing support to early-stage projects that enable the growth of the Web3 ecosystem. “We are excited to support Perena in the early stages of their journey and help them in their mission to join the next wave of stablecoin users on Solana.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
