September 12, 2024
Binance Labs has made its first investment in the rapidly expanding tokenized real-world assets (RWA) sector. Andy Chang, Investment Director at Binance Labs, expressed their support for projects advancing Web3 through sustainable technologies and highlighted OpenEden’s potential to leverage the growing use of stablecoins and RWAs.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
OpenEden | September 12, 2024 | Strategic Investment | Binance Labs | RWA |
With the new funding from Binance Labs, OpenEden aims to broaden access to RWA-backed yields within the DeFi ecosystem. They plan to introduce new products, form new partnerships, and expand into emerging markets.
Jeremy Ng, Co-Founder of OpenEden, expressed excitement about Binance Labs’ support, noting that it will help them accelerate efforts to combine native and real-world yields, stabilize DeFi returns, and attract institutional liquidity to decentralized platforms.
About OpenEden
OpenEden is a platform that allows users to earn yields from U.S. Treasury securities on the blockchain. It offers tokenized U.S. Treasury Bills (TBILL) that can be minted and redeemed 24/7, providing real-time transparency and liquidity. The platform is designed for Web3 CFOs, DAO treasury managers, and institutional investors looking for low-risk, highly liquid crypto cash management solutions. OpenEden’s TBILL tokens are backed by short-dated U.S. Treasury Bills and have received an “A” rating from Moody’s.
Website: https://openeden.com/
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About Investor
Investor: Binance Labs
Binance Labs is the venture capital and incubator arm of Binance, a leading cryptocurrency exchange. With a portfolio worth over $10 billion, Binance Labs is dedicated to identifying, investing in, and empowering viable blockchain entrepreneurs, startups, and communities. It provides financing to industry projects that help grow the wider blockchain ecosystem.
Binance Labs is committed to supporting fast-executing, technical teams who positively impact the crypto space and build the decentralized web. Its portfolio covers 250 projects from over 25 countries across six continents and has a return-on-investment rate of over 14X2. Fifty of Binance Labs’ portfolio companies are projects that have gone through their incubation programs.
Location: Hong Kong, Hong Kong
Website: https://labs.binance.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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