Binance Disburs $1 Billion Fund To Accelerate Adoption Of Blockchain Technology

Binance funds research to speed up blockchain adoption. (photo: unsplash)

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.

“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.