Binance Labs Invests $1 Million in HOPR Protection Platform

Binance Labs, the venture arm of the world’s largest cryptocurrency exchange in terms of volume, Binance, has led what it calls a “strategic” $1 million investment into HOPR, “the first-ever open incentivized privacy and data protection platform.”

This is ahead of the group’s token sale, and Binance Labs’ first investment of 2020. Other investors include Focus Labs, Spark Digital Capital, and Synaitken. Speaking on the matter is the Binance Strategy Officer, Gin Chao, who said:

“As Web 2.0 showed that companies and corporations are in control of a user’s information and data, the team at HOPR has shown us how their decentralized network achieves privacy guarantees on the metadata level and gives power back to the people. We’re very excited to lead this investment round in HOPR, and support a talented and experienced team of developers, cryptographers, and scientists, led by Dr. Sebastian Bürgel, one of the leading decentralized application architects.”

Unfortunately, the date for HOPR’s token sale is still unknown. But this additional funding will ensure they can grow their team.

Speaking on the matter is Dr. Sebastian Bürgel, a co-founder of HOPR, who said:

“The movement to decentralize finance, data and the web needs a new privacy foundation. With HOPR we’re building a layer-0 privacy infrastructure for Web3 that makes it safe and secure to transmit information. We’re honored to have such a tremendous group of investors, led by Binance Labs, who has been at the forefront of empowering and spreading decentralized technologies that challenge even the biggest global incumbents.”