Binance Labs funds Perena to advance decentralized stablecoin adoption and enhance financial efficiency on Solana.
Investment of Binance Labs in Perena’s Stablecoin Protocol
Binance Labs, the venture capital division of Binance, announced its participation in the pre-seed funding round for Perena, a stablecoin infrastructure protocol on Solana. The investment aims to accelerate stablecoin adoption and expand the Solana DeFi ecosystem.
Solana Stablecoin Growth
Perena is designed to bring traditional banking efficiencies to blockchain finance. The platform offers tools for minting stablecoins and earning yield through tokenized real-world assets. By reducing fragmentation and minimizing stablecoin issuance risks, Perena acts as a foundational layer for decentralized finance (DeFi) on Solana.
Expanding the Ecosystem
Binance Labs’ support will help Perena grow its global community, expand its team, and refine its stablecoin solutions. The platform has already introduced Numéraire, a feature that eliminates the need for concentrated liquidity market makers. This innovation lowers capital requirements for launching new stablecoins, further strengthening the infrastructure on Solana.
Aligning with Web3 Growth
Binance Labs emphasized its commitment to fostering early-stage Web3 projects. “We are excited to back Perena in their mission to onboard the next wave of stablecoin users on Solana,” said Max Coniglio, Investment Director at Binance Labs.
“Binance Labs remains committed to providing evergreen support for early-stage projects that are driving the growth of the Web3 ecosystem. We are excited to back Perena at the very early stages of their journey and assist them in their mission to onboard the next wave of stablecoin users on Solana.” Max Coniglio, investment director, Binance Labs.
Advancing Blockchain Finance
With Perena’s advancements and Binance Labs’ support, Solana’s stablecoin ecosystem is poised for significant growth, promising enhanced efficiency and accessibility in blockchain-based finance.
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