Binance and Indian Exchange WazirX Announce $50M Blockchain for India Fund

Cointelegraph

Published Mar 17, 2020 05:48AM ET

Updated Mar 17, 2020 07:20AM ET

Major crypto exchange Binance and WazirX — the Indian competitor it acquired in November 2019 — have announced a fund aimed at sustaining blockchain development in India.

The “Blockchain for India” initiative was announced on March 16 and it is meant to promote the use and adoption of blockchain technologies in the country. With WazirX, the firm has set up a $50 million fund backed by Binance Coin (BNB), Binance USD (BUSD) and WazirX (WRX) to invest in local blockchain projects. WazirX CEO and founder Nischal Shetty said:

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