Binance Goes Big with $1 Billion Blockchain Fund

Binance, one of the largest cryptocurrency exchanges in the world, has announced a $1 billion blockchain fund to help finance crypto startups. The news was apparently revealed in an online conference yesterday that announced the establishment of a social impact fund of US$1 billion that will include 20 partners.

First reported in the China Money Network, Binance is seeking partners that will be long-term investors who are committed to cryptocurrency and blockchain, and have assets-under-management of over US $100 million. Everything will be completed in the Binance coin – BNB.

Binance was born in China but has moved around a bit – most recently landing in Malta providing a high profile blockchain based operation for the tiny EU country that wants to become a jurisdiction of preference for initial coin offerings and blockchain innovation.

 


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