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Binance Widens Horizons in Indian and US Markets

Binance Widens Horizons in Indian and US Markets

Global cryptocurrency exchange Binance has shown progressive measures in accelerating DeFi adoption within India as it launches its hackathon ‘Build for Bharat” project. In addition, Binance US also welcomes Florida residents on its platform.

Binance has officially announced its twofold hackathon and accelerator program exclusively designed for Indian innovators. As per the team, this DeFi-focused program aims to bridge the gap between blockchain and mass adoption.

Alongside this, the American arm of the crypto exchange has extended its services to Florida cryptocurrency users starting today.

Binance Boosts DeFi Adoption in India

Build for Bharat invites creators, innovators, and developers from all over India to showcase their capabilities in building unique products that utilize digital assets and blockchain technology.

To make this massive initiative happen, Binance has partnered with numerous big tech companies like Google, Matic Network, Marlin Protocol, and Ankr, in support of its vision to spread financial freedom and decentralization to all.

The program will run for three months, with the selection process (Genesis) for the top 100 teams on its shortlist to be finalized by September 11. Through Build for Bharat, the winning teams (5) will receive rewards from a pool worth of 3,000,000 rupees (~$40,500) and gain access to Binance’s ecosystem that includes Binance Chain, Binance Cloud, and Binance Launchpad, among others.

With Binance having the second-largest blockchain developer base in the world, CEO Changpeng Zhao (CZ) is very much eager to be a part of India’s path to decentralization:

India has been one of the most interesting countries Binance has tapped into! We’ve seen entrepreneurs create robust blockchain-based solutions from scratch and scale it.

This is a proactive move from Binance as it has shown interest in the Indian market earlier this year. In March 2020, Binance acquired India’s leading digital asset platform WazirX and established the Blockchain for India fund. In line with this, the crypto-entrepreneur program Polaris has also been introduced to meet the needs of pioneering innovative enterprises.

Binance US Expands Operation to ‘Sunshine State’

The ‘Sunshine State’ of Florida finally made it to the list of supported countries in the Binance US exchange platform. Starting on August 25, Florida users can register and leverage the platform’s extensive trading services.

Since the digital asset’s launch in September 2019, Florida is the 38th state to open its doors for Binance US. Floridians can now purchase, sell, and trade over 40 digital currencies that the said exchange supports.

The expansion into America’s third-most populous state is a positive motion done by the independently-operated exchange. Binance US CEO Catherine Coley mentioned in an interview that BAM Trading, its operating body, was established to specifically give US customers a safe, secure, and regulatory-compliant way to trade digital assets.

An aspiring journalist who spills her ideas in cryptocurrency and blockchain-related matters. With her background in Communication and Journalism, she is more inclined to write about reality than fiction.