Binance blesses Ngrave.
on Nov. 21 that its venture capital arm, Binance Labs, made a strategic investment in Belgian hardware wallet firm Ngrave and will lead its upcoming Series A round.
Founded in 2018, Ngrave specializes in self-custody and provides a security suite comprising three major elements: connectionless hardware wallet Zero, key backup tool Graphene and the Liquid mobile app. Yi He, co-founder of Binance and head of Binance Labs, pointed out that security remains one of the biggest challenges for crypto adoption. “Self-custodial wallets are one of the most secure methods for storing digital assets,” He said, adding that Binance is looking to continue backing startups that enhance user security.
“Binance Labs is excited to capitalize on the emerging hardware wallet sector and partner with Ngrave to bring sophisticated wallet products to both retail and institutional users,” Binance Labs investment director Tyler Z added.through its incubation program back in 2018. Binance has also been integrating SafePal’s solution into its platform, adding the SafePal Mini App into the Binance app in October.
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