Binance Labs, the venture capital and incubation division of Binance, has invested in Perena, a pioneering stablecoin infrastructure protocol built on the Solana blockchain. The pre-seed funding round, which was announced on December 11, aims to strengthen Perena’s platform as it continues to fuel stablecoin innovation and adoption across the Solana ecosystem.
By harnessing Perena’s decentralized finance (DeFi) solutions, Solana’s growing user base can benefit from more seamless access to stablecoins. This investment builds on existing ecosystem advancements, as several prominent players like Circle, Paxos, PayPal, and Hong Kong-based First Digital have already contributed to increasing stablecoin support within Solana. The result has been significant transaction volumes, with Solana’s stablecoin traffic at times surpassing that of leading chains like Ethereum.
Perena’s infrastructure introduces traditional banking efficiency into the blockchain environment, allowing users to mint stablecoins, participate in stableswaps, and earn yields on tokenized real-world assets. This approach helps address market fragmentation and reduces the risks associated with stablecoin issuance. As a foundational layer for on-chain finance, Perena enables greater capital efficiency and supports more robust growth in the DeFi market.
Binance Labs’ backing will empower Perena to expand its team, grow its global community, and refine its stablecoin solutions on Solana. With features like Numéraire, Perena is eliminating the need for active concentrated liquidity market makers, thereby streamlining the decentralized exchange experience. This reduced capital requirement for projects launching new stablecoins underscores Perena’s role in shaping the next wave of stablecoin infrastructure on Solana.
