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Binance Labs is an incubator in Malta that focuses on investing in startups with working products. The company is is the venture arm of Binance, existing to grow the blockchain and crypto ecosystem. Founded 2017 in Valletta, Malta by Changpeng Zhao and Yi He, it invests in seed rounds. Its portfolio companies include Dapix, CERE Network, Elrond, Marlin Labs, Torus Labs, Nym Technologies, HOPR, Ironbelly, and Tellor. As of April 2020, Binance Labs has made 13 investments. Their most recent investment was on September 5, 2019, when Dapix raised $5.7M. Binance Labs has raised a total of $10M in funding over two rounds. Their latest funding was raised on November 1, 2017 from a Initial Coin Offering round.
On July 31. 2018 Binance acquired the open source, decentralized Ethereum cryptocurrency wallet Trust Wallet for an undisclosed amount. Binance stated the company acquired Trust Wallet to enhance the service and safety of users on its cryptocurrency trading platform.
