Binance Labs, a leading venture capital firm, just announced an investment in Quine Co. They are the main contributors behind the stablecoin infrastructure protocol called Perena. This investment is part of Perena’s pre-seed funding round.

The goal? To help Perena grow, build a global community, and develop a full suite of stablecoin products on the Solana blockchain.

Max Coniglio, the Investment Director at Binance Labs, said, “We are committed to supporting early-stage projects that drive the growth of the Web3 ecosystem.” He added, “We’re excited to back Perena at this early stage and help them onboard the next wave of stablecoin users on Solana.”

Perena aims to create a more decentralized and accessible financial system. They combine DeFi innovation with traditional financial principles. Built on Solana, the platform uses advanced techniques to merge the efficiency of traditional banking with decentralized finance. By turning stableswaps into liquid synthetic dollars, Perena seeks to reduce fragmentation in the stablecoin space and better manage issuance risks.

The platform offers users the ability to mint stablecoins, gain exposure to tokenized real-world asset (RWA) yields, and access tailored risk-reward profiles through a tranched collateralized debt position (CDP) system. This foundational layer of on-chain money enhances capital efficiency and supports the next generation of DeFi and PayFi applications.

Recently, Perena launched Numéraire, the first weighted multi-token extensible stableswap. This innovation eliminates the need for active concentrated liquidity market maker (CLMM) management. As a result, it lowers the capital requirements for new stablecoin projects.

So, what does Binance Labs do? They focus on empowering early-stage projects and fostering the growth of the Web3 ecosystem. Since 2018, they have provided long-term support, offering strategic guidance and funding, regardless of market conditions.

In their latest move, Binance Labs has also backed Astherus, a multi-asset liquidity hub. This hub aims to maximize the real yield of crypto assets. With this investment, Astherus plans to speed up product development, launch innovative yield-generating solutions, and improve user experiences.