According to Odaily, Provenance has announced the establishment of ProvLabs, a Software as a Service (SaaS) and blockchain development company. This new venture is set to provide operational capabilities on the Provenance platform for financial institutions, service providers, platforms, and decentralized finance (DeFi) applications.
The creation of ProvLabs signifies a significant step for Provenance in expanding its services and reach within the financial and blockchain sectors. By offering operational capabilities on its platform, Provenance is set to enhance the functionality and efficiency of various financial institutions, service providers, and DeFi applications.
This move is expected to further solidify Provenance's position in the market and contribute to the ongoing growth and development of the blockchain industry. However, further details about the operations and future plans of ProvLabs are yet to be disclosed.