Binance, the leading cryptocurrency exchange in terms of trading volume, has announced a new investment. Binance, not only a cryptocurrency exchange but also a provider of various services in multiple subcategories such as option products and Binance Labs. Just a few minutes ago, Binance Labs announced its support for a new project.
Binance Labs has decided to invest in Delphinus Lab, an infrastructure provider that leads the zkWASM space, where zero-knowledge (ZK) cryptography is embedded in WebAssembly (WASM) environments. Delphinus Lab aims to expand the Web3 DApp ecosystem through an application-specific rollup service built on top of the new zkWASM application. The funds will be used for the ongoing development of zkWASM Hub, Delphinus Lab’s zkWASM-based application aggregation platform that provides automatic proving and batching services for Web3 application development.
According to Binance’s announcement:
“Binance Labs, the venture capital and incubation arm of Binance, has invested in Delphinus Lab, an infrastructure provider that has implemented the first known open-source zkWASM virtual machine supporting trusted computation and application SDKs. The zkWASM technology allows developers to build zero-knowledge (ZK) applications using their preferred programming languages and deploy them in WebAssembly (WASM) supported environments. The combination of zero-knowledge proofs and WASM enhances the security and privacy of applications, paving the way for a more secure and decentralized digital environment.”
Yi He, Co-founder of Binance and President of Binance Labs, stated:
“As Binance Labs, we are committed to supporting projects that build critical infrastructure to foster the growth of Web3 applications. We look forward to Delphinus Lab leading the zkWASM narrative and enabling the widespread adoption of Web3 applications among developers and end users.”
Binance often lists its early-stage investment projects on its exchange when they issue their own altcoins.