Investment aims to drive adoption for LSDfi and extend Pendle's reach across various blockchain ecosystems
Binance Labs, the venture capital and incubation arm of Binance, has invested in Pendle Finance, a decentralized finance (DeFi) protocol that enables tokenization and trading of yields. The investment reinforces Binance Labs' commitment to supporting innovative projects that shape the next generation of DeFi primitives. Pendle Finance will use the funds to extend its reach across various blockchain ecosystems, providing both retail and institutional users with inclusive access to DeFi yield opportunities.
Pendle Finance focuses on multi-chain expansion, innovative yield strategies, and greater flexibility for yield management through an intuitive platform. The firm presently supports 25 different pools across Ethereum, Arbitrum, and BNB Chain. A significant portion of these pools are Liquid Staking Derivative (LSD) pools, and Pendle Finance plans to further expand its presence across numerous ecosystems to grow and lead the LSDfi economy.