Binance and WazirX, on Tuesday, announced the setting up of a $50-million blockchain for India fund (backed by BNB, BUSD and WRX digital assets) to incubate and invest in blockchain projects and start-ups focussed on solving industrial and social problems through the use of blockchain technology.
The move comes just weeks after the Supreme Court lifted a ban on trading in cryptocurrency.
“The fund will make investments in both equity and token, ranging from $100,000 to $5 million. The fund will also partner with venture funds in India that are actively investing and supporting the blockchain ecosystem,” it said, adding that it will also provide mentorship and support to universities and student organisations interested in setting up blockchain technology incubators