Binance Disburs $1 Billion Fund To Accelerate Adoption Of Blockchain Technology
JAKARTA - Binance Smart Chain, a unit of crypto exchange Binance, said on Tuesday 12 October that it has launched a $1 billion fund to help accelerate adoption of digital assets and blockchain technology.
A total of $500 million of the fund will be set aside for investments to help develop decentralized computing, gaming, metaverse, virtual reality, artificial intelligence and blockchain-based financial services, BSC sources said.
Of the remaining 300 million dollars will be allocated to the builder program and 100 million dollars each for liquidity incentives and talent development.
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“With the 1 billion initiative, our focus will be broadened to build cross-chain and multi-chain infrastructure integrated with different types of blockchains,” Gwendolyn Regina, investment director of the BSC Accelerator Fund said in a statement.
BSC has more than one million daily active users spread across more than 900 decentralized applications, making it one of the largest crypto ecosystems in the world today.