Binance establishes billion-dollar growth fund
Binance has launched a $1 billion fund to support the growth of its blockchain network, Binance Smart Chain.
The investment will be allocated to four focus-areas in which Binance believes are critical to help accelerate the adoption of digital assets and blockchain technology. The focus areas are:
- Talent Development and Innovation ($100 million)
- Liquidity Incentive Program – Trading ($100 million)
- Builder Program – Technological Startups ($300 million)
- Investment/Incubation Program for Industrial development ($500m)
Binance Smart Chain growth
Speaking about the new investment fund, Binance Founder and CEO, Changpeng Zhao said the Binance Smart Chain platform has attracted over 100 million DeFi users following its initial funding of $100 million.
“With the new contribution of $1 billion, it can disrupt traditional finance and accelerate global mass adoption of digital assets to become the first-ever blockchain ecosystem with one billion users,” said Zhao.
The Binance Smart Chain currently has 1 million daily active users spread across more than 900 dApps, making it one of the biggest crypto ecosystems in the world.