Binance Labs backs Movement Labs’ mission to bring Facebook’s Move to Ethereum and beyond | Headlines | News | CoinMarketCap

05/01/2024 22:14
Binance Labs backs Movement Labs’ mission to bring Facebook’s Move to Ethereum and beyond | Headlines | News | CoinMarketCap

San Francisco-based blockchain development firm Movement Labs has secured an undisclosed investment from Binance Labs, the venture capital arm of the …

San Francisco-based blockchain development firm Movement Labs has secured an undisclosed investment from Binance Labs, the venture capital arm of the world’s largest crypto exchange, Binance.

Binance Labs’ investment is in addition to the $38 million Series A round that Movement Labs announced last week, led by Polychain Capital.

Movement aims to build an ecosystem of modular Move-based blockchains, starting with “M2” — a Move Virtual Machine Layer 2 for Ethereum, according to a statement shared with The Block.

Movement said it would use the funds partly to expand into the Asia-Pacific region and to help grow adoption of the Move programming language across broader blockchain ecosystems by offering enhanced open-source tools for developers to deploy Move VM rollups easily.

"[Binance …

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