Binance Labs invests in Babylon to support the development of Bitcoin staking

ChainCatcher news, according to the official announcement, Binance Labs has announced an investment in Babylon to support the development of Bitcoin staking.

It is reported that Babylon has introduced the concept of native Bitcoin staking for the first time, allowing users to stake Bitcoin for PoS blockchains and earn rewards without the need for third-party custody, bridging solutions, or wrapping services. It provides adjudicable economic security guarantees for PoS chains while ensuring efficient staking unbinding, enhancing the liquidity of Bitcoin holders.