Binance Labs supports Movement's mission to bring the Move programming language to Ethereum as revealed in its recent Capital announcement.
Binance Labs announces investment in Movement Labs. Photo: Binance Blog
In addition to last week 's $38 million Series A round , Movement also recently received backing from Binance Labs with an undisclosed amount of Capital .
Our mission is "Move Everywhere"
— Movement (@movementlabsxyz) May 1, 2024
We are incredibly honorable that @BinanceLabs has invested in Movement Labs, supporting this vision.
Our collaboration will advance our efforts to build deep relationships with developers and communities in the APAC region. pic.twitter.com/TyfsVpUZ2C
According to the plan, Movement will use its new financial potential for the mission of popularizing the Move language and expanding its name in the Asia-Pacific region.
Expressing about the agreement reached with the venture capital arm of the world's largest cryptocurrency exchange Binance, Movement Labs co-founder Rushi Manche said:
" Binance Labs ' support and expertise are invaluable to our journey ahead, starting with the vibrant and innovative APAC market. Through empowering and partnering with Move developers talent in the region, we look forward to promoting the Move language and opening up new opportunities for the entire ecosystem."
As Coin68 reported , Movement is building an ecosystem of blockchains based on Move. Starting with M2, layer-2 uses zero-knowledge proof technology developed by the project itself and is compatible with EVM and supports parallel execution . The project is also in gestation layer-1 using Move called M1.
Besides, Movement Labs also cherishes the development of Move Stack, a layer-2 construction toolkit, similar to OP Stack or Polygon CDK and Arbitrum Orbit .
Movement will launch the Parthenon public testnet in the coming weeks and plans to launch the mainnet later this year.
Move was originally developed by Facebook (Meta now), specifically for the old Diem stablecoin project . Under pressure from the US government, Diem was forced to dissolve and the project team split into two separate blockchains, Aptos and Sui , but still loyally used Move.
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