YZi Labs, previously Binance Labs, launched a $1 billion fund for tasks constructing on the BNB Chain.
The funding firm, which was rebranded from the enterprise arm of crypto alternate Binance final yr, is concentrating on BNB-based tasks in areas akin to buying and selling, real-world belongings (RWAs), synthetic intelligence (AI), decentralized finance (DeFi) and wallets, in keeping with an announcement on X on Wednesday.
YZI Labs mentioned it needs the BNB ecosystem to type a spine of “democratized entry and possession, AI to reinforce human potential and biotech to enhance high quality of life.”
“By means of this $1B BNB Builder Fund, YZi Labs is dedicated to supporting BNB builders throughout sectors akin to DeFi, AI, RWA, DeSci, and extra — these constructing the subsequent technology of open programs that join expertise again to human progress,” mentioned Ella Zhang, Head of YZi Labs.
Following Binance founder Changpeng “CZ” Zhao’s launch from jail final yr, he took a extra lively position within the firm’s enterprise capital arm, rebranded YZi Labs, to focus on startups in Web3, AI and biotech.
YZI Labs is the truth is sometimes called Zhao’s household workplace – the title for an funding car that manages the wealth of a single household. The corporate, nevertheless, says its construction is completely different from a standard household workplace, because it doesn’t contain itself in property planning, tax structuring and so forth.
