Binance announced $1 billion fund for Binance Smart Chain expansion

Binance announced $1 billion fund for Binance Smart Chain expansion
Binance announced $1 billion fund for Binance Smart Chain expansion 2

Binance exchange is ready to advance their Binance smart chain network through the $1 billion fund support.

Binance is the biggest crypto exchange of the crypto market by volume and it is popularly known for their pro level services for the crypto users globally. Recently this platform faced many scrutinities issues by the regulators globally. So this exchange is trying to make the Binance exchange platform’ services changement in order to comply with the rules and regulations globally to operate the services.

Read also: Now Binance is free from the radar of U.K’s Regulators

Beside the improvement in the crypto based products & services, Binance exchange is going to secure advancement in their Binance Smart Chain to integrate the whole crypto blockchain in a single sphere. 

On 12 October, The CEO of Binance exchange, CZ, announced the $1 billion dollar investment in their BSC network.

The main goal of this fund support for BSC is to make the BSC network expand and develop in the crypto industry. 

As per cointelegraph report, they will allocate $100M, $100, $300 & $500 in the Talent Development, Liquidity Incentive program, Builder program & Investment programs respectively. 

The main aim of the Investment & incubation program funding is to make development in the areas to make the ongoing cross chain blockchain protocol interpretability more better. And also it will include Metaverse, Gaming, AI & Virtual reality. 

Through the official announcement, Binance exchange said that they will bring development work in the areas to make the interpretability in between the Web3.0 & traditional web. 

“With collaborations from industry-leading organizations, the investment fund will target scaling blockchain technology for real-life use cases and will bridge the gap between crypto-blockchain and the current technical-financial sectors.”

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