December 4, 2020

Binance Exchange made its first investment in China

Binance, the world's largest cryptocurrency exchange, made its first investment in cryptocurrency in China startup 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.

  • Startup managed by Huoxing24 Ltd, formerlyattracted financing from investors, including IDG Capital, as well as the venture division of exchange operators OKCoin and Huobi. This means that Mars Finance now supports 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.