Binance Labs to lead round II for GoPlus, security Web3 startups <br><br><br>


Binance Labs to lead round II for GoPlus, security Web3 startups

The world’s largest crypto exchange, Binance’s venture capital arm Binance will lead private round II for GoPlus security to create open, permissionless, user-driven security services, announced in a blog post. The company has already been investing in the current crypto bear market. Though this time, the value of the investment has remained disclosed.

The new capital investment will be aligned to create further security data, will be used to develop a security service marketplace by the end of 2022, which the company intends, and to onboard new skilled professionals for the new infrastructural requirements “and to decentralize the security service even more by using the modular blockchain or ZKP technology.”

A few days after Changpeng Zhao (CZ), the Binance CEO, affirmed utilizing a startling $1 billion reserve on investments and acquisitions, this new announcement was made.

The leading Web3 security infrastructure provider has created a real-time, automated security detecting and dynamic platform. It works on NFTs, tokens, contract security, approval security, malicious address, and dApp security.

“Security is foundational to the ever-growing Web3 ecosystem and community. By supporting consumer-facing solutions like Goplus Security, we hope to see how security services to end users can evolve and prosper, ” commented Yi He, Co-Founder of Binance and Head of Binance Labs.

The startup GoPlus Security is already a significant security service data provider today, providing services to 13 chains.

Investment Director at Binance Labs, Nicola Wang, said, “It is so essential to have a better security infrastructure in Web3 development, while at the same time so exciting to see a professional team like GoPlus Security, who has been building, with substantial progress, the vision for the long term.”

Binance has already committed to investing more than $325 million on over 67 projects in 2022.

On the other hand, the exchange had already invested $140 million for 73 other projects last year when the crypto market was bullish.