Following the Supreme Court’s dismissal of the RBI’s ban order on cryptocurrency business, there has been news from the Global Accent Binance Group that it will invest $ 5 million (Rs 370-crore) to invest in blockchain technology in India. Going to create a separate fund.
According to the report, this fund named Blockchain for India will invest $ 1 lakh per startup in India. Through this, Indian entrepreneurs will get direct access to the blockchain ecosystem of Binance. The fund will also be used to invest in other forms of cryptocurrency such as Binance Coin, Binance USD, WRX coins.
The founder and chief executive of Binance, Changpeng Zhao said that when our team visited India last year, it was found that the blockchain startups here are having a lot of problems in fund raising.
Malta Situation The group also plans to support universities and organizations that teach Blockchain technology to students.
Binance acquired Mumbai-based WazirX in 2019. Apart from this, Hong Kong position DApp and JEX, San Francisco position Trust Wallet are also included in its portfolio.
