Binance has created a $50 million fund to support the development of the cryptovoltaic ecosystem in India.
Binance, in partnership with the local WazirX exchange, which it acquired last November, launched the "Blockchain for India" programme. The program is open to startups involved in the development of the cryptographic industry and the Blockchain for India.
Under the initiative, Binance will invest money by acquiring stakes in Indian startups or buying tokens. The exchange is primarily focused on projects that can develop a full-scale infrastructure for cryptocurrency trading. These include Fiat Channels, Payment Platforms, Stakeholders and Decentralized Financial Applications (DeFi). Binance intends to invest between $100,000 and $5 million in one startup.
WazirX founder and CEO Nischal Shetty noted that India has a large number of developers, and the fund will help unlock "the incredible potential of the Blockstone ecosystem".
He added that under the new initiative, Binance is open to collaboration with local foundations that share its goals. At the same time, a project will be developed to disseminate knowledge about Blockchain technology in educational institutions.
In early March, it became known that the Supreme Court of India had lifted the ban on cryptographic currency transactions imposed by the Central Bank in April 2018.
Binance has created a $50 million fund to support the development of the cryptovoltaic ecosystem in India.
Binance, in partnership with the local WazirX exchange, which it acquired last November, launched the "Blockchain for India" programme. The program is open to startups involved in the development of the cryptographic industry and the Blockchain for India.
Under the initiative, Binance will invest money by acquiring stakes in Indian startups or buying tokens. The exchange is primarily focused on projects that can develop a full-scale infrastructure for cryptocurrency trading. These include Fiat Channels, Payment Platforms, Stakeholders and Decentralized Financial Applications (DeFi). Binance intends to invest between $100,000 and $5 million in one startup.
WazirX founder and CEO Nischal Shetty noted that India has a large number of developers, and the fund will help unlock "the incredible potential of the Blockstone ecosystem".
He added that under the new initiative, Binance is open to collaboration with local foundations that share its goals. At the same time, a project will be developed to disseminate knowledge about Blockchain technology in educational institutions.
In early March, it became known that the Supreme Court of India had lifted the ban on cryptographic currency transactions imposed by the Central Bank in April 2018.
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