Binance Labs, the venture arm of the Binance crypto exchange, has made a strategic investment in hardware wallet maker Ngrave.

The investment is part of Ngrave's series A funding round that Binance Labs will be leading, an Ngrave spokesperson said. The amount of funding wasn't disclosed. 

Ngrave makes a hardware wallet called Zero, which aims to compete with larger providers like Ledger and Trezor. The devices, which secure private keys of crypto assets inside hardware in an atempt to guard users against hacks, can offer what some perceive to be better security than web-based private wallets, including MetaMask and TrustWallet.

(by Vishal Chawla)