Anhreview Capital

Main Takeaways:

• Binance Labs has invested in OpenEden, whose focus is in building the bridge to a new financial system through its real-world assets (“RWA”) tokenization platform.

• Binance Labs provides unwavering support to projects that are unlocking the next wave of value and opportunities in Web3 through meaningful and sustainable technologies. 

Binance Labs, the venture capital and incubation arm of Binance, has invested in OpenEden, a real-world assets (“RWA”) tokenization investment platform building the bridge to a new financial system. OpenEden as a group consists of a Monetary Authority of Singapore-licensed fund management company and a full-stack tokenization technology company. OpenEden’s tokenized U.S. T-Bill Fund (“TBILL”) is the first and only tokenized T-Bill product to receive an “A” rating from Moody’s, and is the largest of its kind outside the US. 

OpenEden’s mission is to bring trillions of dollars in real-world yields on-chain. They believe internet-native money will make RWAs accessible to everyone, creating a more inclusive and decentralized economy. Last month, OpenEden announced that they had achieved over $100 million in Total Value Locked (“TVL”) for their tokenized TBILLs.

By enabling KYC-ed investors, DAOs, and crypto treasury managers to connect their self-custodial wallets and mint TBILL tokens, OpenEden allows them to earn a yield on their idle working capital in stablecoins. The platform's in-house management of the entire tokenization stack results in greater operational efficiency and higher net yields for token holders. To date, OpenEden has on-boarded over 100 institutional clients.

With the new funding from Binance Labs, OpenEden plans to expand access to RWA-backed yields throughout the DeFi ecosystem. This will be achieved through the introduction of new products, the establishment of channel partnerships, and the exploration of emerging markets.

“Binance Labs provides unwavering support to projects that are unlocking the next wave of opportunities in Web3 through meaningful and sustainable technologies. We believe OpenEden is well-positioned to capitalize on the growing adoption of stablecoins and RWAs, and we are excited to join them on this journey,” said Andy Chang, Investment Director, Binance Labs.

“We are delighted to have the support of Binance Labs, a leader in the Web3 space, as we drive the growth of tokenized real-world assets. Their backing empowers us to accelerate our efforts in blending native yields with real-world yields, which will help stabilize returns in DeFi and create pathways for bringing institutional liquidity onto decentralized platforms,” said Jeremy Ng, Co-Founder of OpenEden.

As the demand for tokenized RWAs has surged, T-Bills have emerged as a preferred choice among issuers. According to blockchain analytics firm Messari, the total value locked in RWAs has grown exponentially over the past year, reaching $8 billion.

Main Takeaways:

• Binance Labs has invested in Hemi Labs, the creator of Hemi, a pioneering Layer-2 blockchain network that integrates Bitcoin and Ethereum for enhanced security and programmability.

• This investment underscores Binance Labs' commitment to supporting projects leveraging next generation decentralized technologies to push the boundaries of blockchain innovation.

Binance Labs has invested in Hemi Labs, the creator of the Hemi Network (“Hemi”). Hemi is a modular blockchain network designed for superior scaling, security, and interoperability, unifying Bitcoin and Ethereum as components of a novel supernetwork.

Hemi is focused on advancing the technical, economic, and social layers that reside between the industry’s two largest and most utilized protocols. By combining Bitcoin’s robust security and capital base with Ethereum’s flexibility and programmability, Hemi is addressing an underserved intersection of Web3, opening new avenues for builders and investors.

The new capital will accelerate Hemi's growth by advancing decentralized applications (hApps), improving Bitcoin interoperability with the Hemi Virtual Machine (hVM), and refining secure asset transfers between Bitcoin and Ethereum. It will also scale Hemi's decentralized sequencers and Proof-of-Proof (PoP) consensus for faster, more secure blockchain settlements.

The company is set to release major updates within the next 12 months, including new use cases for their trustless cross-chain tunneling system, secure data anchoring for AI, and decentralized finance (DeFi) applications, all powered by Bitcoin and Ethereum.

“We look forward to supporting Hemi Labs as they work on important infrastructure that connects Bitcoin and Ethereum in a modular and scalable way. Hemi's approach aligns with our commitment to backing strong founders of projects that are focused on building practical, decentralized solutions with long-term potential,” said Alex Odagiu, Investment Director at Binance Labs.

“We are thrilled to have Binance Labs as a key partner in our mission to reshape blockchain infrastructure. Binance Labs' investment and global network will be instrumental in accelerating our growth and helping us deliver on our vision to create a more unified and efficient blockchain ecosystem,” said Jeff Garzik, CEO of Hemi Labs.

Main Takeaways:

• Binance Labs has invested in Sophon, an ecosystem for entertainment applications in gaming, social, AI, prediction markets and beyond. 

• This investment underscores Binance Labs' dedication to empowering early-stage projects that are making Web3 more accessible and driving ecosystem growth.

Binance Labs has invested in Sophon, an ecosystem for entertainment applications in gaming, social, AI, prediction markets and beyond. With the grand vision of changing how users live, play, create, and connect in the internet economy, Sophon is laser-focused on creating seamless customer experiences. 

Sophon is able to achieve all this through the unique applications of the ZK Stack, such as native account abstraction, which is designed to provide a gasless experience. The zkSync codebase is the most battle-tested zkEVM and has consistently achieved best-in-class throughput and cost metrics across the entire Ethereum L2 stack in various public benchmarking exercises. This is critical for enabling a highly scalable and stable environment for the next generation of consumer applications. 

From its incubation by Merit Circle to strategic partnerships with Beam, Zentry, and Aethir, and several other soon-to-be-announced partners, Sophon is establishing itself as the go-to platform for developers and users alike. With its mainnet soon to launch, Sophon is well-equipped to cultivate a thriving ecosystem that transcends mere financial incentives.

The newly secured funds will be utilized to accelerate ecosystem growth, attract top talent, and support the development of innovative projects that seamlessly connect entertainment, creativity, community, and technology.

“Binance Labs is dedicated to empowering early-stage projects that push the boundaries of Web3 and fuel the growth of the ecosystem. Sophon’s strong industry partnerships and early success signal their immense potential to revolutionize the entertainment, gaming, and AI spaces,” said Andy Chang, Investment Director, Binance Labs.

“We are thrilled to have Binance Labs join us on our mission to empower the next generation of entertainment on the internet,” said Seb, CEO of Sophon. “Our goal is to make technology effortless and accessible for users while equipping developers with the tools to push boundaries and accelerate their applications like never before.”