Binance Unit Launches $1 Billion Fund To Push Blockchain Tech Adoption


Binance Smart Chain launched a billion dollar fund

Binance Smart Chain, a Binance crypto exchange unit, announced on Tuesday that it has launched a billion dollar fund to help accelerate the adoption of digital assets and blockchain technology.

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

Of the remainder, $ 300 million will go towards a construction program and $ 100 million each for cash incentives and talent development.

“With the billion dollar initiative, our focus will be broadened to build cross-chain and multi-chain infrastructure integrated with different types of blockchains,” said Gwendolyn Regina, investment manager of BSC Accelerator Fund, in a press release.

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


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