Binance launches $ 1 billion fund to fund blockchain startups

Binance, the world's first digital asset trading platform in terms of volume, announced the creation of a $ 1 billion investment fund that will fund blockchain startups.

Ella Zhang, the manager of the Binance Lab, announced the initiative at an online conference.

The Binance Lab will select 20 partners to participate in these investments - partners that will all have at least $ 100 million in assets under management.

This funding will all be realized through the platform's ERC-20 token, the Binance Coin (BNB).

Binance Lab is already supporting the project of the founder of Didi Chuxing, who wants to launch a VTC reservation platform backed by blockchain technology.

But the field of intervention of this incubator is broad: it provides advice in the creation of public blockchains, decentralized exchange platforms, investment products, payment, ...

The company behind the MobileCoin cryptocurrency is already in its portfolio, as well as the Certik platform, which specializes in auditing smart contracts.

Zhao Changpeng, CEO of Binance, said in an article published on the LinkedIn platform that the ICOs had raised the equivalent of $ 5.7 billion in 2017. And in January 2018, the crypto-companies would have raised more than 2 billion financing through such operations.