Binance Labs has announced an investment in Ambit Finance to accelerate the development of trust-based DeFi within the BNB Chain ecosystem.
About Strategic Investment
Binance Labs is the venture capital arm and accelerator of Binance, the world’s largest crypto exchange by volume. Binance Labs has announced a strategic investment to commit up to $4.5 million to Ambit Finance, a dApp that uses newly structured financial products to increase both the use and utility of BUSD and other prestigious cryptocurrencies.
Binance Labs and Ambit Finance Collaboration
Binance Labs and Ambit Finance will continue to work together to launch the DeFi applications of the future, focusing on innovation, security, and risk control, and will collaborate on projects within and outside the BNB Chain ecosystem. In addition, a return-generating BUSD-based stablecoin will be created by Ambit, designed to provide a sustainable return within all market conditions. Thus, new areas of use will have emerged for those using the BNB Chain.
DeFi Super App
According to the multi-purpose roadmap of the project, a DeFi Super App will be created to support existing DeFi functions such as secured lending and areas such as under-collateralized margin lending and structured products for financial institutions. Ambit Finance’s North Star will strive to provide the most unified user experience in the entire Web3 and will become a center of DeFi activity.
About Ambit Finance
Ambit Finance is a sustainable, comprehensive and easy-to-use suite of fintech applications (Super application) that will combine lending, borrowing and yield optimization strategies to take it further. A launching pad for a “decentralized Binance” that will combine the utility of BUSD and DApps in the wider BNB Chain ecosystem and the usability of Binance.com with the latest innovations in DeFi.
Visit Our Other Blogs: All News