Binance Labs Launching Eight Start-Ups


Binance labs has announced that it will be launching eight different Blockchain start-ups. The Blockchain start-ups are from the recently concluded Binance Labs San Francisco chapter which saw the incubation of the start-ups for the past few months. It was focusing on giving mentorship guidance and providing resources for the start-ups.

Eight Blockchain Start-ups Selected

More than five hundred projects submitted their applications for a chance to get into the program. Following an intensive review process, only eight projects were chosen to get into the program and each received a grant of $500,000. The selected projects were also given talks by some of the most influential individuals in the sector including by Changpeng Zhao, Binance’s CEO.

Binance Labs’s head Ella Zhang has said that the institution is looking to develop a network of BUIDLers and an ecosystem that is strong. She added that they will be expanding the program for the next season to accommodate start-ups in five continents. Seven of the eight start-ups have already submitted working products with three of them already having paying customers. BUIDL is another name for Binance Academy.

One of the projects selected is Path by Robert Yau. Yau has described Path as an API platform that would enable developers concentrate on the building of financial products without having to have an understanding of all the different available wallets, exchanges or even the Blockchain. He added that the Path platform was aiming at expanding the Crypto ecosystem to also accommodate traditional developers who are focused on developing products with real applicability.

Next Program To Involve Five Continents

Yau clarified that Binance Labs was coming in to offer not only the seed capital required to get the company started on stable ground but also invaluable insight and knowledge of the sector. Through the Binance Incubation Program, each of the selected start-ups will have the opportunity to hold weekly fire chat sessions with mentors, which is an invaluable asset.

The mentors include the who is who’s in the Crypto sector, people that would be unreachable were it not for the program, Yan has reiterated that in fact this was the most important and priceless support offered by the program.

Each of the eight projects will have the opportunity to present their products on the stage at the Binance Conference that will be held in Singapore on the 21st of January next year. The next incubation program, as announced by Binance, will be including projects from multiple continents which will be hosted in Lagos, Berlin, Singapore, Hong Kong, San Francisco and Buenos Aires.

Projects From The Current Program

The current incubation project has launched eight different start-ups that include Nym, which is focused on developing a more secure internet, Path that has been discussed previously, Akio Labs, which is creating an easier way to understand data presented on the Blockchain. Other selected start-ups are SafePal, which is an affordable hardware wallet that is also easy to use, Torus which is an easy way of logging in to Dapps, Injective Protocol, Deaux and Decore.

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