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BNB News: Crypto Exchange Binance Funds Chinese Cryptocurrency Media Firm

World-renowned cryptocurrency and digital asset exchange, Binance has made a strategic investment in Mars Finance, a Chinese media and data source. At the time of reporting, Binance [BNB] is the world’s largest digital currency exchange in terms of daily trading volume.

Interestingly, the investment amount was not disclosed. Nonetheless, the aforementioned investment values the company at around two hundred million dollars, as per a report from Bloomberg. Notably, Bloomberg cited a press release in the aforesaid report.

It is to be noted that the crypto exchange Binance purportedly made its first strategic investment in China with the above mentioned round. Moreover, Mars Finance, which is based out of Beijing, has also been invested in by Ceyuan Ventures and Matrixport. Captivatingly, Matrixport is a financial services startup founded by Jihan Wu, who is the co-founder of BTC mining firm Bitmain.

Changpeng Zhao, the CEO of Binance, mentioned while talking about the aforementioned investment that they have great admiration for news, data, and research firms which prop up the constructive development of the blockchain ecosystem. He added that they will continue to follow strategic investment opportunities in their mission to increase cryptocurrency and digital asset adoption, bring crypto among the mainstream audience, and further assist the industry mature in a sustainable way.

Bloomberg Report, OKCoin and Huobi Crypto Exchange

It is to be noted that the media site was founded by Wang Feng in 2018, as per Bloomberg. Moreover, the startup has beforehand raised 2 funding rounds from several investors including the venture subsidiaries of Huobi ans OKCoin. Moreover, IDG Capital is also an investor in the company.

Notably, the aforementioned news comes at a time when the crypto exchange’s new United States based platform gets ready to aboard customers in grounding for live trading.

As per the previous report of KoinPost, in the BNB news and BNB coin news section, we reported that Binance is going to launch new Blockchain protocol FIO. In our recent article covering everything from BNB to BTC, we covered how Bitcoin’s price volatility affected other altcoins including Binance Coin [BNB]. We also covered BNB coinmarketcap price discussions in on our social handles. Apart from that, we covered coinmarketcap BNB rank discussion on our TELEGRAM channel.

At the time of reporting, BNB is changing hands at $22.42 a pop, as per coinmarketcap. BNB is having a market cap of $3.48 Billion and a daily volume of $290.8 Million, as per CMC (coinmarketcap). Binance Coin [BNB] is up by around 8 percent on a daily chart, as per coinmarketcap.