Web3 infrastructure provider Ankr has attracted strategic investment from the venture arm of Bitcoin exchange Binance. This was reported to ForkLog by project representatives.

Ankr will allocate funds for improvement RPC– Service and development of a range of developer tools, including Liquid Staking SDKWeb3 Game SDK and Application Chains as a Service.

According to the statement, an undisclosed amount of investment from Binance Labs follows the provider’s significant contribution to the development and maintenance of the BNB Chain ecosystem.

The Ankr team created the core infrastructure of the network, including the Erigon client upgrade, the archive node upgrade for the blockchain, and the BNB Application Side Chain (BAS) scalability solution.

For example, the implementation of Ankr technology for Erigon reduced the storage capacity requirements by 75% and increased the performance of RPC requests by 10 times.

The project has also made DeFi protocols scalable on top of the network using BNB Liquid Staking. The platform allows BNB token holders to create strategies to generate income through the simultaneous use of staking, profitable farming, lending and other opportunities.

“We are committed to supporting the further scaling of the BNB Chain, strengthening the utility of network tokens through BNB Liquid Stake and expanding the BAS ecosystem,” said Ryan Fan, COO of Ankr.

Recall that in May Binance’s venture arm invested in the Persistence startup behind the pSTAKE liquid staking solution.

In June, amid the downturn in the cryptocurrency market, exchange head Changpeng Zhao said that the company’s “good” crypto projects will help it survive the crisis. He later revealed that Binance is in negotiations with more than 50 companies.

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