Binance Introduces $50M ‘Blockchain for India’ Fund – CoinDesk
The new Binance-backed fund, which will make investments in both equity and token acquisitions, is particularly interested in initiatives that assist develop a full crypto market facilities for India, according to a news release. That might consist of fiat gateways, remittance platforms, stablecoin options and new applications for decentralized finance (DeFi).
Highlighting that India had among the largest designer and software engineering talent pools in the world, WazirX founder and CEO Nischal Shetty said in a declaration that the brand-new fund would make full usage of the “extraordinary potential that the Indian blockchain ecosystem needs to offer.”
The new fund would be open to collaborating and co-investing with other local funds sharing the very same objectives, Shetty stated. There will also be an effort for supporting blockchain advancement and incubator programs in Indian universities.
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