Binance and WazirX announce $50 Million Blockchain for India Fund

Binance along with their newly acquired Indian Crypto Exchange, WazirX, announced $50 Million Blockchain for India Fund.

The blockchain fund will be used for investment in Indian projects and startups who intend to solve different problems with the help of blockchain technology.

Executive Opinion

The blogpost announcement CEO, WazirX, Nischal Shetty, said, "With this fund, we want to encourage and enable more and more founders and teams to come in and BUIDL. This initiative also shows the incredible potential that the Indian blockchain ecosystem has to offer. This fund will give projects and startups direct access to the Binance global ecosystem — and it’s pretty amazing!"

Binance's Blockchain India fund

Binance and WazirX will leverage newly setup fund to invest in terms of equity as well as crypto tokens. The investment will range from $100,000 to $5 Million.

BNB, BUSD and WRX tokens will form the backbone of the Blockchain for India Fund. Along with these, fiat-to-digital assets gateway solutions, trading platforms, payment and remittance solutions, digital asset wallets, stablecoins, DeFi platforms, DApps technologies will also back the blockchain fund.

Mentorship and support will be also offered to student organisations and universities who wish to set up blockchain technology incubators, notes the announcement.