Binance Labs Invest in NGRAVE Crypto Wallet Producer

Binance Labs, the accelerator and the venture capital division of Binance, informed on Monday that it has invested in NGRAVE, a hardware cryptocurrency wallet maker. Additionally, the crypto exchange is leading the upcoming Series A financing round. The value of the investment has not been disclosed to the public.

According to the press release, NGRAVE was founded four years ago in Belgium and is currently offering a connectionless hardware wallet with a touch-screen dubbed ZERO. On top of that, the company is providing the LIQUID mobile app allowing users to connect with blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term in real-time and GRAPHENE for safe crypto key encryption and storage.

NGRAVE ZERO is the only crypto wallet that obtained the highest possible certification of security, EAL7. The Evaluation Assurance Level (EAL1 do EAL7) has been used in IT systems and product evaluation since 1999. The higher the level, the higher the confidence that the system's security features are reliable and correctly implemented.

“Security remains one of the biggest hurdles for crypto adoption. Self-custodial wallets are one of the most secure methods for storing digital assets and through our investment in NGRAVE, we are looking to continue backing innovative startups that enhance user security,” Yi He, the Co-Founder of Binance and Head of Binance Labs, commented.

Binance Labs Has Supported the Industry Since 2018

Binance decided to launch its accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term program and venture capital arm in 2018. For the last four years, the institution was able to support 200 projects, 50 of which were discovered due to the Binance Labs Incubation Program.

By the numbers, Binance Labs is currently the biggest cryptocurrency venture capital in the niche, with Assets Under Management (AuM) exceeding $7.5 billion.

In November, the VC made a $4 million investment in the Web3 sports game platform dubbed Ultimate Champions. Binance wants to support the rapidly growing Web3 gaming industry and help build a F2P fantasy sports platform.

A month earlier, Binance Labs led the pre-seed funding round for Ancilla, an automated threat detection solution in the blockchain space.