PayPal Boosts Investment in Chaos Labs, Strengthens Blockchain Risk Management

PayPal Ventures has made an additional investment in Chaos Labs, a blockchain risk management company. This move, alongside Chaos Labs’ launch of Edge, a decentralized oracle protocol, aims to enhance the security of decentralized finance (DeFi) applications. PayPal Ventures’ investment will be made in its stablecoin, PYUSD.

PayPal Ventures Expands Investment in Chaos Labs

In a move to strengthen the security of the decentralized finance (DeFi) space, PayPal Ventures has made an additional investment in Chaos Labs, a leading blockchain risk management company. This investment highlights PayPal’s ongoing commitment to advancing the crypto ecosystem, reflecting a strategic focus on innovative technologies and decentralized finance.

Strengthening the DeFi Ecosystem

Amman Bhasin, partner at PayPal Ventures, emphasized the importance of Chaos Labs’ role in securing the crypto ecosystem. “Our continued investment in Chaos Labs reflects our belief in their vision to create a safer crypto ecosystem and move more financial services on-chain,” he said. Bhasin praised Chaos Labs as a leading authority in blockchain risk management and expressed excitement about the company’s latest innovation, Edge.

Introducing Edge: A New Standard for DeFi Security

Chaos Labs’ Edge, a new decentralized oracle protocol, enhances price data accuracy and market intelligence. By addressing oracle vulnerabilities, it boosts the security and efficiency of DeFi applications. With insights into market dynamics and security risks, Edge aims to safeguard the expanding DeFi sector.

Riding the Wave of Success

This fresh investment comes just one month after Chaos Labs secured a $55 million Series A funding round. That round, led by Haun Ventures, saw participation from new investors such as F-Prime Capital, Slow Ventures, and Spartan Capital, alongside existing backers like PayPal Ventures. These investments underscore the strong market confidence in Chaos Labs’ approach to securing blockchain systems.

Innovation Backed by Expertise

Omer Goldberg, CEO of Chaos Labs, thanked PayPal Ventures for its support, stating that “Edge by Chaos” reflects the company’s expertise. He noted that the platform provides exceptional risk and price data for stablecoins, real-world assets, and crypto, significantly improving risk management in DeFi ecosystems.

PayPal’s Vision for Stablecoins

PayPal’s investment aligns with its broader vision for stablecoins. The company introduced its stablecoin PYUSD in August 2023, designed to offer a reliable and secure payment option backed by U.S. dollar reserves. PYUSD is expected to play a critical role in the future of blockchain-based financial services

Search