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Binance Labs makes a strategic investment in Ankr

By:
on Aug 11, 2022
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  • Ank Protocol announced Binance Labs’ strategic investment on Thursday.
  • Binance Labs investment will help Ankr Protocol improve its Liquid Staking and Web3 Gaming SDK.
  • Ankr looks to help BNB Chain scale and promote overall Web3 adoption.

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Crypto exchange Binance’s venture capital arm and accelerator Binance Labs has made a strategic investment in web3 infrastructure platform Ankr (ANKR), according to details shared with Invezz on Thursday.

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Per the press release, the Ankr Protocol team plans to tap into the new capital injection to boost their RPC service. The platform will also use the investment to advance its Web3 developer suite, with further improvements to the protocol’s Liquid Staking SDK and Web3 Gaming SDK as well as its App Chains as a Service offering.

Binance Labs’ strategic investment in Ankr comes on the back of significant contributions the protocol has made to the BNB Chain ecosystem, including BNB Liquid Staking. The investment and the ecosystem improvements that follow will benefit the broader BNB Chain ecosystem, particularly in accelerating Web3 adoption. 

Commenting on the investment, Ankr COO Ryan Fang said:

We are very excited to count Binance Labs as a strategic investor. BNB Chain is by far the chain with the highest number of daily transactions and active users. We are committed to support BNB Chain further scale, enhance BNB token utility by enabling DeFi composability using BNB Liquid Staking, and expand Binance Application Sidechain (BAS) ecosystem to enable innovative use cases requiring a highly scalable infrastructure, and other innovative infrastructure services opening the gates to permissioned sidechains.”

Ankr helps make access and use of decentralised applications (dApps), wallets, and crypto games easy for blockchain users. The protocol currently hosts RPCs for 18 blockchains, serving more than 7 billion blockchain requests per day.

Apart from BNB Chain, Ankr Protocol also provides its multi-chain tools to top blockchains cutting across the Web3 and DeFi ecosystems, including Ethereum (ETH), Polygon (MATIC), Solana (SOL), Avalanche (AVAX) and Optimism (OP) among others.

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