World’s largest crypto exchange Binance in association with the newly acquired crypto exchange WazirX has launched a new initiative for the Indian startup ecosystem. The exchange launched “Blockchain For India”, a $50 million fund to support the growth of the blockchain ecosystem in India. 

Concerning the new fund, Binance Boss “Changpeng Zhao” states; ‘Let’s invest in India’. However, the official announcement elaborates that the investment will be made in both forms, equity as well as tokens. Besides, the fund is emphasizing on partnering with top VCs of the country that are; actively investing and supporting the blockchain ecosystem in India’. 

The initiative goes beyond investment, as per the official announcement, Blockchain for India also seeks to provide ‘mentorship and support to universities, organizations’ that are currently looking to set up ‘university blockchain technology incubators’. According to the official announcement; 

Under the Blockchain for India initiative, the selected startup founders and teams will get direct access to Binance’s global blockchain ecosystem comprising of Binance Chain, Binance Cloud, Binance DEX, Binance Launchpad, Binance Research, Binance Academy, Binance X and Binance portfolio companies, such as WazirX, DappReview, Trust Wallet and more. 

Undoubtedly, the Supreme court’s decision of quashing the crypto banking ban turned out to be a favorable decision for the Indian crypto and blockchain ecosystem. If not the complete freedom, the decision paved the way for leading players to foresee the bright future in India. Besides Binance, Indian crypto exchange CoinDCX previously announced a $1.3 million funds on March 12 to boost awareness and adoption of cryptocurrencies in India. 

More so, CoinDCX’s initiative dubbed ‘TryCrypto’ is tapping on 50 million Indian consumers to cryptocurrencies. With the ‘TryCrypto’ initiative, CoinDCX is moving towards seminars, online courses, roadshows, meet-ups, community events, awareness campaigning, product trials, and several other educational sessions. 

In an announcement, Binance also noted that the projects interested to know more about the BlockchainForIndia initiative can contact via ‘helloIndia@binance.com' with their project information and business presentation.