The rapid evolution of blockchain technology is reshaping industries by enabling greater decentralization, security, and user empowerment. As new use cases emerge and adoption grows, the demand for innovative blockchain solutions is higher than ever, particularly in sectors like finance, digital identity and beyond.
In response to this trend, BingX, a prominent cryptocurrency exchange, is expanding its efforts to support and drive innovation within the blockchain space. The recent launch of BingX Labs marks a significant milestone in this journey.
At the helm of this new venture is Vivien Lin, chief product officer at BingX, who has recently taken on the additional role of head of BingX Labs.
Under her guidance, BingX Labs offers a comprehensive suite of services, including incubation, technical support, strategic consulting, and financial investment, to help blockchain projects succeed in an increasingly competitive market. In this interview, Vivien Lin sheds light on how BingX Labs is set to accelerate the growth of promising Web3 projects and what it means for the future of the blockchain industry.
Cointelegraph: Can you tell us what inspired BingX to create BingX Labs and how it fits into your global expansion strategy?
Vivien Lin: As the blockchain and crypto industry continues to mature, we recognized an opportunity to contribute even more meaningfully to the ecosystem by supporting the next generation of blockchain projects. BingX Labs was born out of this vision — to nurture and accelerate high-potential projects, ultimately enhancing the BingX ecosystem and driving global adoption of blockchain technology.
CT: How is BingX Labs contributing to the broader Web3 landscape, and what role does it play in shaping the industry’s future?
VL: BingX Labs is at the forefront of driving innovation within the Web3 space. Through it, we’re not just building new technologies but actively shaping the future of the industry by pioneering advancements that enhance decentralization, security and user empowerment.
For instance, our recent initiatives, like integrating our perpetual contract market with TradingView, demonstrated how we’re bridging the gap between traditional trading tools and the decentralized world.
Source: BingX
BingX Labs is also focused on fostering global adoption of Web3 technologies by developing quality Web3 products that simplify access to digital assets. I believe by pushing the boundaries of what’s possible, we would be able to contribute to a more inclusive and innovative financial ecosystem.
CT: How does BingX Labs differentiate itself from other blockchain incubators and accelerators?
VL: BingX Labs is unique in its approach because it’s deeply integrated into the BingX ecosystem. We don’t just provide financial investment but a full spectrum of support, including technical guidance, strategic consulting and community engagement. Our rigorous screening process ensures that we select only the most promising projects, which we then tailor our support to, based on their specific needs.
Whether a project is in its early development stages or nearing market launch, we customize our resources to ensure its success. Being part of BingX also means that these projects gain access to our extensive user base and market insights, which are invaluable for their growth and adoption.
CT: What kind of projects are you looking to support through BingX Labs? What criteria do you use to select them?
VL: We’re focused on projects that demonstrate strong technical innovation, market potential and feasibility. Our selection process is thorough and meticulous. We look at factors like the project’s development team, its technological foundation, the problem it aims to solve and its potential for mass adoption.
We want to support projects that not only have the potential to succeed but also align with our vision of making blockchain technology accessible and beneficial to a global audience. Once selected, these projects receive tailored support, ranging from strategic investment to technical assistance, to help them reach their full potential.
CT: Which sectors of the market are the most interesting for BingX Labs?
VL: BingX Labs is particularly focused on sectors that we believe represent the future of blockchain technology. These include real-world assets (RWA) tokenization, which involves the digitization of real-world assets; artificial intelligence, which has the potential to revolutionize decentralized systems; GameFi projects, and layer-2 infrastructure, which addresses scalability issues in blockchain networks.
We are also interested in decentralized physical infrastructure networks (DePINs) and decentralized finance (DeFi), both of which offer innovative solutions to existing challenges in the market. These might change in the future as the whole Web3 industry shifts due to a change in user demand, but by focusing on these current sectors, BingX Labs aims to support projects that not only have strong growth potential but also align with the evolving needs of the blockchain industry.
CT: Community engagement seems to be a big part of BingX Labs. How do you plan to connect these projects with the broader blockchain community?
VL: We leverage BingX’s large and active user base to connect projects with potential investors and users. We also host AMAs, collaborate with key opinion leaders (KOLs) and organize regional events to ensure that these projects gain visibility and support from the broader blockchain community. This approach not only helps the projects we support but also enriches the BingX community by bringing fresh ideas and opportunities to our users.
CT: Why were you appointed as both chief product officer of BingX and head of BingX Labs?
VL: My dual role as chief product officer of BingX and head of BingX Labs reflects the close relationship between these two entities. With one person overseeing both product development and investment strategies, the company’s product roadmap and investment decisions can be more closely aligned. This ensures that the products being developed are in sync with the company’s broader financial and strategic objectives.
The CPO and the head of BingX Labs roles can identify and act on opportunities where product innovations and investments reinforce each other. For example, if the exchange is planning to launch a new product, then I will place more emphasis on investing in related projects that could complement or enhance this product.
Decision-making processes have become more efficient since the CPO, head of BingX Labs, has simplified interdepartmental communications. This enables us to make quick, informed decisions on investments and product changes, better coordinate resources within the ecosystem and benefit everyone.
CT: In your opinion, which role in the crypto space is most similar to yours?
VL: In the cryptocurrency space, my role is most similar to that of a venture capital partner combined with a product strategist. Like a venture capital partner, I am deeply involved in identifying and nurturing high-potential projects, providing them with the necessary resources and guidance to succeed. At the same time, my responsibilities as CPO require me to think strategically about how these projects fit within the broader BingX ecosystem and how they can bring value to our users.
CT: What are your long-term goals for BingX Labs, and how do you see it influencing the future of the blockchain industry?
VL: Our long-term goal for BingX Labs is to become a leading force in blockchain innovation. We aim to support a growing number of high-potential projects, continually adapting to the evolving landscape of the industry. We want BingX Labs to be synonymous with quality, innovation and success in the blockchain space.
By fostering a robust ecosystem within BingX, we hope to drive meaningful advancements in the industry and ensure that blockchain technology continues to grow and integrate into mainstream society.
CT: How does BingX Labs fit into BingX’s long-term global expansion strategy, and what role will it play in the company’s future initiatives?
VL: BingX Labs is central to our “ExpansionX” strategy, driving global growth and innovation. On top of supporting high-potential blockchain projects, BingX Labs aligns with our broader strategy to introduce new trading products and services, such as USD Coin (USDC)-margined futures trading and our Launchpad and Launchpool for token sales.
BingX 🤝 Apple Pay 🤝 Google Pay
— BingX (@BingXOfficial) August 10, 2024
You aren't ready for us 😎https://t.co/rg1Bhr1pLc
As we enhance our fiat trading capabilities with integrations like Apple Pay and Google Pay, BingX Labs will help align these advancements with the latest projects. Ultimately, BingX Labs is designed to drive forward our global expansion while fostering innovation and supporting our commitment to delivering top-notch trading solutions and localized support worldwide.
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