Mainstream cryptocurrency exchange, Binance has announced a $1B fund to improve the Binance Smart Chain (BSC) ecosystem and promote the adoption of digital assets and blockchain technology.
This accelerator fund will be shared amongst the four areas, namely, Investments, Builder Program, Talent development, and Liquidity Incentives.
The investment program, which caters to fast-growing tech-related areas like metaverses, gaming, virtual reality, and artificial intelligence, is expected to receive 50% of the budget.
The other 50% will be shared amongst Builder Program, Talent development, and Liquidity Incentives accordingly.
Binance CEO Changpeng Zhao (CZ) explained that the “initial funding of 100 million” “attracted” more than 100 million new users to the platform.
Based on this ideology, CZ expects the latest funding to yield similar results and will increase crypto’s adoption rate.
“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,” Zhao said.