Binance Labs has announced a strategic investment in Coin98, a platform that builds a full-suite of DeFi products. Coin98 will contribute to building DeFi infrastructure on Binance Smart Chain (BSC).
Coin98 introduces itself as Multi-Chain & NFT Super App for a reason. The company allows users to swap, stake, borrow, lend, invest and earn crypto in one platform, and is constantly developing its DeFi ecosystem. According to the Coin98 webpage, the company’s mission is to understand user experience, conduct in-depth research, and create innovative products.
According to a blog post by Binance, Coin98 aims to build an NFT Marketplace, token launch platform, AMM on Binance Smart Chain, and make DeFi on BSC accessible to everyone.
Binance Labs will support Coin98 by providing the team with technologies, consultation, and incubation services.
“We hope that Coin98 can contribute to the development of DeFi within the BSC ecosystem through the strategic investment. There are many features that we are looking forward to seeing that Coin98 is coming up with and we think that the users of the BSC ecosystem will be excited about these too,”
Bill Chin, the head of the Binance Labs Fund, said.
“Binance Smart Chain is the most used network on the Coin98 platform regarding active addresses and trading volume. With the upcoming BSC-based products, we can't wait to drive these numbers even higher when having support from Binance,"
Thanh Le, the founder of Coin98, remarked.
On the Flipside
Binance NFT Marketplace has just introduced “a fair & equal way to buy NFTs.”