Binance, the world’s largest blockchain corporation behind the world’s highest trade volume and customers crypto-asset exchanges, has now revealed a new “Blockhain for India” project to promote the growth and advancement of Blockchain businesses in India. Binance is India’s first global blockchain firm.
WazirX was purchased in 2019 by Binance to promote the use and use of blockchain technology. We today are pleased to announce the formation of a US$ 50 million Blockchain fund (backed by BNB, BUSD, and WRX crypto assets) by Binance and WazirX, jointly aimed at incubating and investing in blockchain ventures and start-ups to address industrial and social problems by leveraging blockchain technology.
Considering India’s amazing engineering expertise, this fund will support the success of several Indian blockchain start-ups and entrepreneurs and foster sustainable development in India’s blockchain start-up ecosystem. Investments involve but are not restricted to gateways, exchange channels, payment and routing tools, digital asset wallets, stablecoins, defi networks, mobile apps and more.
Nischal Shetty, Founder, and CEO of WazirX said “To include everybody in the technology transition, we launched WazirX and the Blockchain for India fund represents an enormous move in this direction. India has the world’s biggest reservoir of engineering expertise. We want to attract more and more entrepreneurs and teams and allow BUIDL to join this project. The project also shows the incredible ability of the Indian ecosystem of blockchain. We look forward to working with other venture funds to further grow the technology, in addition to financing transformative blockchain ventures in India.”
The Blockchain funds for India will spend from USD 100,000 to USD 5 million in the equity and tokens. The Fund will also partner with India’s venture funds which actively invest and help the blockchain ecosystem. The program also seeks to help colleges and student organizations involved in developing blockchain university development incubators.
Through the Indian project, chosen company creators and teams can directly connect the Binance’s global Blockchain platform of the portfolio companies such as Wazir X, DappReview, Trust Wallet and others like the Binance Network, Binance Cloud and Binance DEX, Binance Launchpad, Binance Analysis, and Binance Academy. You can gain active mentorship by other creators and members inside the Binance but just through information and resource sharing.
Binance CEO and Founder Changpeng Zhao said: “Let’s invest in India.”
Please send to helloIndia@binance.com your project background and company overview for projects involved in inquiring about and applying for the fund.
The team also calls on professional professionals from varied fields to invest in the fund with a history in risk management and/or blockchain science. The company also needs advisors on its advisory council, who host market executives or professionals on blockchain technologies, corporate growth, and government relations.