Binance establishes $1 billion fund to fast-track blockchain tech adoption
Binance cryptocurrency exchange has announced the launch of a $1 billion fund to develop and support the Binance Smart Chain (BSC) ecosystem.
It's time to accelerate #BinanceSmartChain's journey towards scaling and mass adoption 🚀— Binance Smart Chain (@BinanceChain) October 12, 2021
We're announcing the biggest growth fund in the history of crypto – the $1 billion fund to push the adoption of not only BSC but the whole blockchain industry.
The fund is divided into four categories:
1. $100 Million Talent Development;
2. $100 Million Liquidity Incentive Program;
3. $300 Million Builder & Incubation Program;
4. $500 Million Investment Program.
The latter category is focused on funding startups from various fields, including games and applications from the virtual reality and metaverse segments.
"With the $1 billion initiative, our focus will be widened to building cross-chain and multi-chain infrastructures integrated with different types of blockchains," Gwendolyn Regina, investment director of BSC Accelerator Fund said in a statement.