Binance Funds Mars Finance Media Firm in China

Asia Blockchain Review
September 25, 2019
Binance Funds Mars Finance Media Firm in China

International cryptocurrency exchange Binance has recently joined a funding round for Mars Finance a crypto media firm based in China. Mars FInance was founded in 2018 by Wang Feng, who is also the Co-founder of Linekong Interactive Group.

Funding Round Values Mars Finance at $200M

According to a report by Techinasia, Ceyuan Ventures and Matrixpoint also participated in the funding round. A statement from Mars Finance revealed that it was valued at approximately US$200 million.

Mars Finance is a news platform with an emphasis on cryptocurrency and blockchain, while also hosting reference materials for crypto and blockchain technology. The company presents itself as an online community aimed at sharing blockchain/crypto knowledge.

Other services to be introduced in the future include digital asset management services and market reports.

Blockchain & Crypto Media Grows in China

Mar Finance has reportedly been gaining more interest from investors, with its previous funding rounds welcoming firms such as Mengxin Technology, IDG Capital, and the venture arms of cryptocurrency exchanges Huobi and OKCoin.

According to a Bloomberg report, Binance CEO Changpeng Zhao affirmed that it is keen on investing in media firms in the blockchain and crypto industry.

“We have large respect for data, news, and research firms which support the positive growth of the blockchain industry,” Zhai said. “We will continue to pursue strategic investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably.”

Meanwhile, Binance recently introduced its new service Binance Lending, which allows users holding Binance Coin (BNB) and Tether (USDT) to participate in a crypto-lending venture and earn interest from their assets.

Source: https://www.techinasia.com


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