June 17, 2024

Binance Exchange invested in the Chinese company Mars Finance

Binance Exchange invested in the Chinese company Mars Finance

Cryptocurrency exchange Binance took part in a project to attract investments launched by the Chineseby Mars Finance. The company managed to raise capital in the amount of $ 200 million.

In addition to Binance, the company invested moneyCeyuan Ventures venture capital fund and Matrixport financial startup, founded by Bitmain mining company. Changpeng Zhao, the founder of the exchange, said that Mars Finance managed to achieve high rates of business development. The company became the first Chinese company to receive investment from a trading platform.

Mars Finance was founded by BeijingEntrepreneur Wang Feng in 2018. The company opened a Chinese-language cryptocurrency news portal and created the Consensus Lab venture capital fund, which invested in the Hong Kong trading platform Coinsuper. The previous two rounds of fundraising were attended by IDG Capital investment firm and venture capital funds opened by OKCoin and Huobi cryptocurrency exchanges.

In August 2019, information appeared thatBinance is going to enter into a partnership agreement with several governments and commercial enterprises to develop a new digital asset called Venus, which will compete with the virtual currency Libra from the social network Facebook. Zhao said Venus will become an independent regional version of Libra. The coin rate will be tied to fiat currency, so it, like Libra, will receive stablecoin status.