Binance Labs Announces Strategic Investment in Coin98 to grow DeFi in BNB Chain Ecosystem

Main takeaways

• Binance Labs announces a strategic investment in Coin98, a leading all-in-one DeFi platform building a full suite of products, including Coin98 Wallet, Coin98 Exchange, and Space Gate cross-chain bridge to migrate tokens across networks.

• Coin98 will contribute to DeFi infrastructure on BNB Chain (former BSC) through the strategic investment.

Binance Labs, the venture capital and innovation incubator of Binance, is pleased to announce the recent strategic investment in Coin98, an all-in-one DeFi platform that helps bridge millions of TradFi users to DeFi.

Coin98 will accelerate the platform's development through this strategic investment and contribute to the BNB Chain Ecosystem by building DeFi infrastructures including NFT Marketplace, token launch platform, AMM on BNB Chain, and making DeFi on BNB Chain accessible to everyone. 

To support Coin98's long-term vision, Binance Labs will provide the team with the technologies, consultation, and incubation services needed. 

Bill Chin, Head of Binance Labs Fund, said:  “We hope that Coin98 can contribute to the development of DeFi within the BNB Chain ecosystem through the strategic investment. There are many features that we are looking forward to seeing that Coin98 is coming up with and we think that the users of the BNB Chain ecosystem will be excited about these too.”

Meet Coin98: A Leading All-in-One DeFi Platform 

With the mission of fulfilling the untapped demand in the DeFi space and becoming a Gateway for TradFi users to access DeFi world and Web3 future easily, Coin98 is building a full suite of products, including Coin98 Wallet, Coin98 Exchange, Space Gate (cross-chain bridge) and more under development features. 

• Coin98 Wallet is a non-custodial DeFi, NFT, and Web3 wallet. Coin98 Wallet now supports users to store, manage, and trade tokens on over 40 blockchains such as BNB Chain, Ethereum, Solana, Polygon, Avalanche, Terra, etc., on mobile (iOS & Android), Chrome Extension, and Web versions. 

• Coin98 Exchange is a DEX aggregator that supports assets from various liquidity sources. 

• SpaceGate is a cross-chain bridge that enables swapping and transferring values across multiple networks. 

• NFT Marketplace, AMM, and token launch platform will be released soon. 

“BNB Chain is the most used network on the Coin98 Platform regarding active address and trading volume. With the upcoming BNB Chain-based products, we can't wait to drive these numbers even higher when having support from Binance Labs,” said Thanh Le, Founder of Coin98.

Binance Labs: The Venture Capital Arm and Incubator of Binance

Binance Labs identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities, providing financing to industry projects that help grow the larger blockchain ecosystem. Binance Labs is committed to supporting fast-executing teams who positively impact the crypto space.

You can find the recent investments of Binance Labs here:

• Binance Labs Leads $1.5 Million Seed Round for Cosmic Guild to Support Scholarships and to Strengthen NFT Portfolios

• Binance Labs Participates in the $110 Million Series C Funding of Figment

• Binance Labs Leads $60M Financing Round for Multichain