Binance Labs invests in Movement Labs and will empower its mission to “make Move ubiquitous”

Original source: Movement Labs

Movement Labs, a blockchain development team based in San Francisco, announced today that Binance Labs has made a strategic investment in it. This round of investment belongs to the $38 million Series A financing completed by Movement Labs. It is reported that this round of financing will continue to empower the company's mission of "making Move ubiquitous".

Founded in 2022, Movement is building a blockchain ecosystem based on modular Move, starting with M2, Ethereum's first Move virtual machine L2. Movement will use the funds to expand its range of open source tools, frameworks, and protocols to promote the adoption of the Move programming language in the broader blockchain ecosystem. With Movement, developers can launch secure, high-performance, and high-throughput Move VM rollups as easily as using smart contracts.

As part of its global expansion strategy, Movement Labs is focusing on the Asia Pacific (APAC) region, recognizing the huge potential and talent within the Move development community. The company is committed to supporting and promoting Asian Move developers, providing them with resources, education, and opportunities to showcase their outstanding work and contribute to the growth of the Move ecosystem.

“We are very excited to welcome Binance Labs as a strategic investor,” said Rushi Manche, Co-founder of Movement Labs. “Binance Labs’ support and expertise will be invaluable as we continue to advance our strategy to ‘make Move everywhere,’ with an initial focus on the vibrant and innovative Asia Pacific markets. By empowering and working with exceptional Move developers in the region, we aim to accelerate the adoption of Move and unlock new possibilities for the entire ecosystem.”

About Movement Labs

Co-founders Rushi Manche and Cooper Scanlon, early builders of the Move ecosystem, founded Movement Labs in 2022 as the first integrated blockchain network to power the fastest and most secure Layer 2 on Ethereum. Designed to combine smart contract security and parallelization with EVM liquidity and user base, Movement is bringing MoveVM to Ethereum via its flagship L2 Rollup connecting the Move Stack.

For more information on Movement Labs and a guide to participating in the devnet, visit here, follow the official X account @movementlabsxyz and Discord.