YZi Labs introduced a 1 Billion Dollar Fund for BNB Chain Projects.

YZi Labs, formerly known as Binance Labs, has introduced a $1 billion fund for those developing projects on the BNB Chain. The company was rebranded last year from the investment arm of the cryptocurrency exchange Binance.

The company's focus is on BNB-based projects in areas such as trading, real-world assets (RWAs), artificial intelligence (AI), decentralized finance (DeFi), and digital wallets. They shared this information in an announcement made on Wednesday.

YZi Labs aims for the BNB ecosystem to serve as a foundation for providing "democratic access and ownership," applications of artificial intelligence that enhance human potential, and biotechnology pathways that improve quality of life. YZi Labs Director Ella Zhang stated, "Through this $1 billion BNB Builder Fund, we are committed to supporting BNB builders across various sectors such as DeFi, AI, RWAs, DeSci, and more."

The company notes that it has become more active in venture capital since the release of Binance founder Changpeng 'CZ' Zhao from prison last year. YZi Labs targets start-ups in areas like Web3, AI, and biotechnology. Additionally, although it is often referred to as Zhao's family office, the company states that its structure differs from a traditional family office, as it does not deal with matters like estate planning and tax structuring.