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Binance VC arm leads $60M round in cross-chain protocol Multichain
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Binance Labs, the venture capital and incubation arm of Binance cryptocurrency exchange, has led a financing round for the cross-chain protocol Multichain, previously known as Anyswap.
Shortly after rebranding from Anyswap last week, Multichain has raised $60 million in a seed funding round led by Binance Labs, the firm officially announced on Dec. 21.
Other participants in the raise included major VC firms and industry investors like Sequoia China, IDG Capital, Three Arrows Capital, Primitive Ventures, DeFiance Capital, Circle Ventures, Hypersphere Ventures, HashKey and Magic Ventures.
Apart from providing capital investment for Multichain, Binance is also building a stronger relationship with the cross-chain protocol. On Dec. 20, Multichain
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