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Binance Smart Chain, System Of Crypto Exchange Binance, Releases $1 Billion Fund To Fast-Track Blockchain Tech Adoption

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Binance Smart Chain launched a $1 billion fundBinance Smart Chain, a unit of crypto exchange Binance, said on Tuesday it had launched a $1 billion fund to help fast-track adoption of digital assets and blockchain technology.A total of $500 million from the fund will be reserved for investments to help grow decentralized computing, gaming, metaverse, virtual reality, artificial intelligence and blockchain-based financial services, BSC said.Of the remainder $300 million will be earmarked for a builder program and $100 million each for liquidity incentives and talent development."With the $1 billion initiative, our focus will be widened to building cross-chain and multi-chain infrastructures integrated with different types of blockchains," Gwendolyn Regina, investment director of BSC Accelerator Fund said in a statement.BSC has over one million daily active users spread across more than 900 decentralized applications, making it one of the biggest crypto ecosystems.




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