March 4, 2024

Binance Exchange made its first investment in China

The world's largest cryptocurrency exchange Binance made its first investment in China, in the cryptocurrencystartup Mars Finance.

Binance Investment in China

Other startup investors included Ceyuan Ventures and Matrixport, a cryptocurrency financial services platform created by Wu Cihan, co-founder of Bitmain Technologies.

The amount of funding was not disclosed, but Mars Finance, according to reports, reached an estimate of $ 200 million after the last round.

  • A startup operated by Huoxing24 Ltd, formerlyattracted funding from investors including IDG Capital, as well as the venture arm of exchange operators OKCoin and Huobi. This means that Mars Finance is now supported by all three Chinese cryptocurrency exchange giants – OKEx, Huobi and Binance.
  • Interestingly, Mars Finance also manages its own venture fund Consensus Lab, which has invested in over 50 startups.