PANews reported on December 11 that Binance Labs announced an investment in Quine Co., the core development team of Perena, to support its efforts to build the first stablecoin infrastructure protocol on Solana. Perena aims to build a more decentralized, efficient and accessible financial system by combining DeFi innovation with traditional financial principles.

Perena solves the problem of stablecoin ecosystem fragmentation and reduces the capital requirements for new stablecoin issuance through its product Numéraire (a multi-token extension of Stableswap without CLMM management). Users can mint stablecoins, earn returns on tokenized real-world assets, and achieve customized risk-return configurations using a layered collateralized debt position system. Binance Labs' investment will support the Perena team to scale, grow a global community, and build a comprehensive stablecoin product suite on Solana.