Binance Labs has invested in Babylon, a protocol that allows users to stake Bitcoin on proof-of-stake blockchains and earn yield without surrendering their BTC to third-party custodians.
Babylon’s model allows PoS blockchains like Ethereum and Cardano to benefit from increased security while offering BTC owners new utility and profitability.
Binance Labs, the venture capital and incubation arm of the world’s largest crypto exchange, has announced an investment in Babylon, a platform that allows Bitcoin owners to stake their BTC on proof-of-stake networks like Ethereum and Cardano.
According to Binance co-founder Yi He, who also heads the incubator, Babylon is facilitating a massive integration of Bitcoin with the ever-growing proof-of-stake (PoS) economy.
We’ve invested in @babylon_chain!
Babylon is a blockchain project that designs security sharing protocols with a mission of scaling Bitcoin to secure the decentralized economy.
Read morehttps://t.co/9f5c2vt38S
— Binance Labs F

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