The YZI LABS, former Binance Labs, has introduced a $ 1 billion funding for projects building on the BNB chain.
The investment company, which was rebranded from the arm of the crypto exchange Binance’s venture last year, targeted BNB-based projects in areas such as trading, real-world assets (RWAW), artificial intelligence (AI), decentralized finances (DEFI) and dompets, according to An announcement in x On Wednesday.
Yzi Labs said it wants the BNB ecosystem to develop a spine of “Democratized Access and owner, AI to enhance human potential and biotech to improve the quality of life.”
“With this $ 1B BNB Builder Fund, the YZI LABS is dedicated to supporting BNB builders throughout the sectors such as Defi, AI, RWA, Desci, and more – those who build the next generation of open systems that connect technology back to human development,” said Ella Zhang, leader of the YZI Labs.
Following Binance founder Changpeng “CZ” Zhao’s Exit from prison last yearHe took it A more active role in the company’s venture capital arm.
YZI LABS is in fact often referred to as Zhao’s family office – the name for a investment vehicle that manages the wealth of a single family. The company, however, said its structure differs from a traditional family office, as it does not involve itself in estate planning, tax structure and so on.
