Cryptocurrency exchange Binance has launched a $ 50 million fund in India to support local blockchain startups, iHodl Russia has learned.
It is reported that the so-called "Blockchain for India" project was implemented jointly with the WazirX Indian platform, which Binance bought in November last year.
The new fund will invest in startup shares as well as in their tokens.
Binance is reportedly interested in projects that can contribute to the formation of a full-scale infrastructure for cryptocurrency trading. This includes fiat channels, payment platforms, stablecoins, and decentralized finance (DeFi) applications.
The amount of investment for a startup will be from 100 thousand to 5 million dollars. Selected startups will gain access to the global Binance ecosystem.
Earlier iHodl reported that Binance.US, a US subsidiary of the popular crypto exchange Binance, listed Tezos (XTZ) on its platform.
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