San Francisco-based blockchain network development team Movement Labs today announced a strategic investment from Binance Labs. This investment follows Movement Labs' successful completion of a USD 38 million Series A financing, as the company strives to fulfill its mission of "Making Move Everywhere."
Founded in 2022, Movement Labs is currently building a modular Move-based blockchain ecosystem, with the team's first release being the M2, the first Move virtual machine L2 network on the Ethereum network. Subsequently, Movement Labs will utilize these funds to expand its open-source tools, frameworks, and protocol suites to promote the application of the Move programming language in a broader blockchain ecosystem. Through Movement-related applications, developers can easily launch Move VM Rollup programs that combine security, high performance, and high throughput, similar to writing smart contracts.
As part of its global expansion strategy, and recognizing the enormous potential and diverse talent in the Move development community, Movement Labs is focusing on development in the Asia-Pacific region (APAC). The company will provide resources, training, and corresponding opportunities to support the development work of Asian Move developers, helping them showcase their achievements and make more contributions to the growth of the Move ecosystem.
"We are thrilled to have Binance Labs as our strategic investor," said Rushi Manche, co-founder of Movement Labs. "As we continue to strive for the 'Making Move Everywhere' strategy and focus on the vibrant and innovative APAC market, their support and professional assistance are invaluable. By empowering outstanding Move developers in the APAC region and collaborating with them, we will jointly drive the accelerated adoption of the Move language and open up new possibilities for the entire ecosystem."
About Movement Labs
Movement Labs (@movementlabsxyz) was founded in 2022 by early builders of the Move ecosystem, Rushi Manche and Cooper Scanlon, pioneering the first integrated blockchain network to empower a faster and more secure L2 network on Ethereum. With the original intention of combining smart contract security, EVM liquidity parallelization, and user base, Movement Labs aims to expand the advantages of the Move virtual machine to the Ethereum network through its flagship L2 network and Rollup program connected to the Move Stack.
About Binance Labs
Binance Labs has now grown into Binance's venture capital department and accelerator worth over USD 10 billion. Its portfolio covers over 250 projects from more than 25 countries across six continents, with an investment return rate of over 14 times. Approximately 50 investment projects in the portfolio were carried out through Binance Labs' incubation program.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
