Binance Labs backs Polkadot ecosystem with $2.4m investment in Plasm Network

Binance Labs backs Polkadot ecosystem with $2.4m investment in Plasm Network

Binance has mobilized nearly one-quarter of its Polkadot ecosystem fund to lead Plasm Network’s Series A funding round. Binance Labs has led a $2.4 million Series A funding round for Polkadot-based smart contract platform, Plasm Network.Plasm Network's funding round is the first investment made using Binance Labs’ $10 million fund to support projects in the Polkadot ecosystem. Plasm is a leading parachain candidate on Polkadot supporting Ethereum and Layer-2 scaling solutions.Binance Labs is the venture capital and incubator arm of crypto exchange giant Binance. In December 2020, Binance....


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