Binance unit launches $1 billion fund to fast-track blockchain tech adoption

- Advertisement -


October 12 (Businesshala) – Binance Smart Chain, a unit of crypto exchange Binance, said on Tuesday that it has launched a $1 billion fund to help the rapid adoption of digital assets and blockchain technology.

- Advertisement -

BSC said a total of $500 million from the fund will be reserved for investments to help develop decentralized computing, gaming, metaverse, virtual reality, artificial intelligence and blockchain-based financial services.

- Advertisement -

Of the remaining $300 million, one will be earmarked for the builder program and $100 million each for liquidity incentives and talent development.

“With the $1 billion initiative, our focus will be on building integrated cross-chain and multi-chain infrastructure with a variety of blockchains,” Gwendoline Regina, investment director at BSC Accelerator Fund, said in a statement.

- Advertisement -

BSC has over one million daily active users spread across over 900 decentralized applications, making it one of the largest crypto ecosystems.

Reporting by Richard Rohan Francis in Bengaluru; Editing by Vinay Dwivedi

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox