Binance Labs announces investment in stablecoin infrastructure protocol Perena

ChainCatcher news, Binance Labs announced an investment in Perena's core development team Quine Co., supporting its establishment of a stablecoin infrastructure protocol on Solana. The investment from Binance Labs will help the Perena team scale, develop a global community, and build a comprehensive suite of stablecoin products on Solana.

Perena aims to create a more decentralized, efficient, and accessible financial system by combining DeFi innovations with traditional financial principles.

Perena recently launched Numéraire, a weighted multi-token scalable stablecoin exchange protocol (stableswap) that does not require actively managed concentrated liquidity market makers (CLMM), significantly reducing the capital requirements for issuing new stablecoins.