Binance-Backed YZi Labs Invests in DeFi Protocol TermMax

YZi Labs, the investment arm of global cryptocurrency exchange Binance, has invested in DeFi protocol TermMax. This strategic move lifts TermMax's total funding to over $8 million and increases its total value locked (TVL) to tens of millions of dollars.

TermMax aims to bring a bond-like fixed-rate structure from traditional finance into the largely floating-rate DeFi market. The protocol offers lending products with set maturities and fixed interest rates, operating on 10 Ethereum Virtual Machine-compatible networks with over 60 fixed-rate markets and more than 40 vaults.

TermMax has also expanded its offerings to include tokenized stock-backed loans and options functionality through TermMax Alpha. The company's institutional platform, TermPrime, completed its first transaction in June and now has nine institutional counterparties.