Binance continues its series of announcements through its investment arm, fueled by the increasing activity in cryptocurrency markets. With the resurgence of crypto trading, exchanges and their investment companies find themselves busier than ever. The latest announcement focuses on a project within the Solana 
$176 network.
The Project Binance Invested In
Binance Labs has made an investment in Perena, the first stablecoin infrastructure protocol on Solana. The investment is targeted towards Quine Co, the company behind the protocol, with a focus on Real World Assets (RWA). Through this protocol, users can mint stablecoins or tokenize assets on the Solana network, which has seen a surge of initiatives bridging traditional banking and decentralized finance.
However, in a network like Solana, known for its speed and low fees, this development appears particularly intriguing. Perena recently launched Numeraire, a significant advancement as the first weighted multi-token stableswap that does not require the management of concentrated liquidity market makers (CLMM), optimizing capital requirements for new stablecoin launches significantly.
Max Coniglio from Binance Labs stated:
“Binance Labs continues to support early-stage projects that drive the growth of the Web3 ecosystem. We are excited to support Perena in their early stages and assist them in their mission to engage the next wave of stablecoin users on Solana.”
