Cryptocurrency Exchange Binance Announces $50 Mn Blockchain Fund For India
Cryptocurrency exchange platform Binance has set up a $50 Mn fund for blockchain technology in India.
The ‘Blockchain for India’ fund plans to invest an average ticket size of $100K to $5 Mn per startup through cryptocurrency — Binance Coin, Binance USD and WRX coins.
Besides the capital, the cryptocurrency exchange platform will also provide proper mentoring to the startups, from the leaders within Binance’s network — Binance Chain, Binance Cloud, Binance DEX, Binance Launchpad, Binance Research, Binance Academy, and Binance X. Binance Group’s acquired companies, Mumbai-based WazirX, Hong Kong-based DappReview, and San Francisco-based Trust Wallet will also join in as mentors.
The announcement comes a few weeks after the Supreme Court of India lifted the banking ban on cryptocurrency trading in India.
Besides this, Binance X has invited Indian blockchain startups for a fellowship programme.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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