Introducing Blockchain for India — $50 Million fund backed by WazirX & Binance

By March 17, 20202 minute read

Namaste Tribe! It’s been almost 10 days since the Reserve Bank of India’s banking ban was struck down by the Supreme Court. In these 10 days, WazirX has enabled fast INR deposits and instant INR withdrawals to ensure that you can seamlessly get onboard and offboard crypto.

In November 2019, WazirX joined forces with Binance, the world’s largest cryptocurrency exchange to be a part of their greater mission to spread freedom of money. If you look closely, with every feature, and update, our goal has been to involve India in the blockchain revolution. With this initiative, we want to take things further, and ensure the Indian crypto ecosystem grows at lightning speed.

Together, Binance and WazirX are launching $50 Million Blockchain for India fund to invest in projects and startups focusing on solving problems through blockchain. The fund is backed by BNB, BUSD and WRX, and our investments will include fiat-to-digital assets gateway solutions, trading platforms, payment and remittance solutions, digital asset wallets, stablecoins, DeFi platforms, DApps, etc.

The fund will make investments in both equity and tokens, ranging from $100,000 to $5 Million USD. We also plan to partner with blockchain-focused venture funds in India. If any student organisations and universities want to set up blockchain technology incubators, Blockchain for India fund will also provide them with mentorship and support.

With this fund, we want to encourage and enable more and more founders and teams to come in and BUIDL. This initiative also shows the incredible potential that the Indian blockchain ecosystem has to offer. This fund will give projects and startups direct access to the Binance global ecosystem — and it’s pretty amazing!

Are you working on something interesting? Go ahead, and and write to [email protected] with your project information and business presentation. We’ll be happy to hear from you!

Jai Hind 🇮🇳

Nischal Shetty, CEO — WazirX. On a mission to involve everyone in the blockchain revolution! Follow me on Twitter
*Above content is migrated from medium to wazirx blog
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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