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 trade Binance final 12 months, is focusing on BNB-based tasks in areas comparable to buying and selling, real-world belongings (RWAs), synthetic intelligence (AI), decentralized finance (DeFi) and wallets, based on an announcement on X on Wednesday.
YZI Labs mentioned it desires the BNB ecosystem to kind a spine of “democratized entry and possession, AI to boost human potential and biotech to enhance high quality of life.”
“Via this $1B BNB Builder Fund, YZi Labs is dedicated to supporting BNB builders throughout sectors comparable to DeFi, AI, RWA, DeSci, and extra — these constructing the following era of open techniques 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 12 months, he took a extra lively function within the firm’s enterprise capital arm, rebranded YZi Labs, to focus on startups in Web3, AI and biotech.
YZI Labs is actually sometimes called Zhao’s household workplace – the title for an funding car that manages the wealth of a single household. The corporate, nonetheless, says its construction is totally different from a conventional household workplace, because it doesn’t contain itself in property planning, tax structuring and so forth.