Binance Labs Rebrands as YZi Labs Expands Investment Focus

0
61
Binance Labs Rebrands as YZi Labs Expands Investment Focus

Binance Labs, a blockchain technology incubator made an announcement today which states that the incubator is rebranding itself as YZi Labs and will be expanding its focus beyond blockchain technology. The company will now also include Web3, Artificial Intelligence (AI) and biotechnology (biotech) sectors.

Binance Labs announces its rebranding to YZi Labs
Binance Labs announces its rebranding to YZi Labs

YZi Labs Expands its Horizon

The main focus for YZi Labs will remain the same, which is to support innovation through the blockchain technology but with new sectors being included, the focus will shift from just blockchain technology to other booming technologies. This move will lead to more innovation in various sectors and YZi will increase its investment areas.

Ella Zhang, First Leader of Binance Labs To Lead the Initiative

Binance’s former CEO, Changpeng Zhao (CZ) will be playing an important role within the organization. He will still be included in the investment activities, he will still be mentoring founders and will offer strategic guidance wherever needed. Moreover, Ella Zhang, who was the first head for Binance Labs that previously incubated 40 startups including Polygon and CertiK is coming back to lead the organization. Her expertise and experience will drive innovation to a next level for YZi Labs’ growth.

“Rebranding to YZi Labs is more than a name change—it signifies an expanded vision as we broaden our horizons to include transformative sectors like AI and biotech,” said CZ. “We’re thrilled to welcome Ella back to lead this next phase. Her expertise and vision were instrumental in shaping the organization’s early success, and I’m confident that under her leadership, YZi Labs will continue identifying and backing founders who will drive long-term impact.”

YZi Labs will have its portfolio will have more than 250 projects across 25+ countries. This expansion is said to support existing initiative and will back innovation in the newly included industries.

Also Read: Solana Price Hints Major Breakout Amid $10 Billion TVL Surge 

LEAVE A REPLY

Please enter your comment!
Please enter your name here