Although the exact amount of the investment is not known, it is known that it represents a strategic contribution for Binance.
The important cryptocurrency exchange company Binance recently announced that it made a million-dollar investment with the Chinese firm Mars Finance.
There is little information about the financial movement, but according to sources from this company, the investment in this Chinese startup represents a “strategic action” for the largest and most important crypto exchange house in the world. The exact amount of the contribution Binance made to Mars Finance, or how it specifically made this disbursement, is unknown this time.
According to Chinese financial data, the company dedicated to the source of data and new technologies for finance, Mars Finance, is valued at more than 200 million dollars, and has an important participation in the business of the Asian country.
For some experts it is strange that Binance makes such an important investment to this company based in China because the company has other objectives or has participation in another economic sector. However, when referring to this strategic action, there is a possibility that everything is planned to benefit Binance at some point.
Changpeng Zhao, who is CEO of the important company, discussed this investment and clarified that this is a contribution to the entire crypto industry and not only to the companies involved.
Zhao said they have an important task to complete, and that it is their duty to support the adoption of cryptocurrencies so driving companies like Mars Finance is an advance to that mission.
“We have large respect for data, news and research firms which support the positive growth of the blockchain industry. We will continue to pursue strategic investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably”.
Binance was not the only company to make a contribution to the Chinese firm. It is known that companies such as Ceyuan Ventures and Matrixport decided to join in making an investment. Matrixport is known since it is the financial services startup founded by one of the Bitmain’s managers, Jihan Wu.
The powerful technology firm Mars Finance was founded by Chinese businessman Wang Feng, in mid-2018, and it already represents a powerful ally for other financial companies in the world. It was known, according to Bloomberg, that this has been the second time a round of investors has been held in order to seek financing for their projects. On the first occasion, Huboi, OKCoin, and IDG Capital made the capital outlay for Chinese firm.
Mars Finance is also dedicated to market reports and capital investment studies at risk points, according to data expressed on its website.
This news about the important investment that Binance made to a company in China, seeks to note that the largest cryptocurrency exchange company on the planet is very interested in being the most active one in the industry, as well as being a fundamental pillar to promote and support the adoption of cryptocurrencies in the world’s financial markets.
By María Rodríguez