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Blockchain News | Binance Labs announces launch of 8 Blockchain Startups

Binance Labs

Binance Labs has recently announced the launch of eight projects incubated in the past few months. These were selected after an intense review program and were granted $500, 000 each. This marks an end to the  San Francisco chapter’s ten-week Incubation Program. It  focused on providing guidance, mentorship, and resources to each project.

List of Innovative Startups

  • Nym – Building a secure, private future for the internet
  • Path – Plaid for Crypto
  • SafePal – The Easiest & Most Affordable Hardware Wallet
  • Injective Protocol – The New Standard for Decentralized Exchange
  • Torus – Frictionless logins for Dapps
  • Akio Labs – The easiest way to get insights from blockchain data
  • Deaux – Teespring for prediction markets
  • Decore – Gusto for crypto native companies

From the Discussion Panel

Ella Zhang, the head of Binance Labs, said :

In the long run, we aim to build up a strong blockchain ecosystem and network of BUIDLers around the world. Our first incubation program in San Francisco was an amazing experience and we are grateful to the mentors, advisers and friends who helped our BUIDLers during the 10 weeks. We are very excited to expand our program next season and meet with blockchain projects across five different continents — scaling quickly, that is Binance speed.

Out of eight selected projects, seven projects have already shipped working products with three of them signing paying customers.

The Path Project

Robert Yau, the founder of Path, spoke about his project and experience with Binance Labs. Yau said:

Path is an API platform to allow developers to focus on building financial products without the need to understand all the different exchanges, wallets, or the blockchain. The goal is to expand the crypto ecosystem to traditional app developers, to enable new ideas focused on real use cases. Similar to what Plaid did for the fiat world.

He further elaborated on what  Binance Labs offered in terms of support:

The most obvious answer is the seed capital to kick off the company. But the real intangle (and I believe that will make the company a success) is the knowledge gained. The weekly fire chat and the mentors are invaluable. These are people you may see at a conference and out of reach. With the Binance Incubation Program, you get intimate fire chat discussions and/or one-one time – these are priceless.

 

All projects will have the chance to pitch onstage at Binance Conference in Singapore on January 21. Reportedly,  Binance will be hosting its next incubation project across multiple continents in Buenos Aires, Singapore, Lagos, Hong Kong, San Francisco, and Berlin.

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