Binance Labs has invested in Hemi Labs, the creator of the layer two (L2) modular blockchain network, Hemi. Hemi aims to enhance scalability, security, and interoperability by integrating the strengths of both Bitcoin and Ethereum into a groundbreaking supernetwork.
As a leading venture capital and incubator arm, Binance Labs focuses on supporting early-stage startups in the Web3 domain. Hemi seeks to merge Bitcoin’s robust security and capital foundation with Ethereum’s adaptability and programmability, positioning itself as a bridge between the two dominant blockchains.
Focusing on decentralized applications (hApps), Bitcoin interoperability via the Hemi Virtual Machine (hVM), and secure asset transfers between Bitcoin and Ethereum, Hemi believes the recent investment will accelerate their growth.
Hemi also aims to strengthen Hemi’s decentralized sequencers—a network of nodes tasked with arranging transactions for a larger rollup chain—and its Proof-of-Proof (PoP) consensus mechanism, enabling faster and more secure blockchain settlements.
According to Binance, Hemi plans to launch significant updates in the coming year, including new applications for its trustless cross-chain tunneling system, secure data anchoring for artificial intelligence, and decentralized finance (DeFi) solutions—all leveraging Bitcoin and Ethereum.
Alex Odagiu, Investment Director at Binance Labs, expressed enthusiasm about supporting Hemi Labs. “Hemi’s infrastructure is key to connecting Bitcoin and Ethereum in a modular, scalable way. Their approach aligns with our mission to back projects with practical, decentralized solutions and long-term potential,” Odagiu said.
Hemi Labs CEO Jeff Garzik welcomed the investment, stating, “Binance Labs’ support and global network will be crucial in accelerating our vision of creating a more unified and efficient blockchain ecosystem,”
Only a month back, Binance Labs announced it was backing four new ventures under the BNB Chain Season 7 MVB initiative. The Most Valuable Builder program is a 10-week accelerator aimed at nurturing builders, founders, and developers dedicated to expanding the BNB Chain network.
