Binance Labs Backs Perena to Supercharge Solana Stablecoin Ecosystem

Binance Labs, the venture capital arm of Binance, has thrown its weight behind Perena, a stablecoin infrastructure protocol designed to revolutionize the Solana ecosystem. The investment, part of a pre-seed funding round for Quine Co., Perena’s core contributor, aims to accelerate stablecoin adoption on Solana’s DeFi-driven platform.

Why Perena Matters

Perena’s innovative infrastructure enables users to mint stablecoins, earn yields on tokenized real-world assets, and reduce risks tied to stablecoin issuance. By introducing Numéraire, its new decentralized exchange feature, Perena eliminates the need for active liquidity market makers, lowering capital barriers for stablecoin projects.

The Bigger Picture

Solana has already outpaced Ethereum in stablecoin volume, with support from major players like Circle, PayPal, and Paxos. Binance Labs’ support will empower Perena to expand globally, build its eteam, and enhance Solana’s DeFi ecosystem further.

“Perena is laying the foundation for the next wave of stablecoin users on Solana, and we’re thrilled to support their mission,” said Max Coniglio, investment director at Binance Labs.

With Binance Labs’ backing, Perena is poised to redefine stablecoin infrastructure on Solana, driving the next phase of Web3 adoption. #Binancepen_spark $SOL