BTC-Newswire

Bitget Exchange Launches $100 Million Fund For Web3 Startups In Asia

Press Releases Crypto News Bitcoinist Bitget Exchange Launches $100 Million Fund For Web3 Startups In Asia

Monetary support is likely the major growth drawback in the Web3 space, as there are several startup projects with clear vision but lacking capital. On that note, Bitget, a Seychelles-based crypto derivatives exchange, has launched a Web3 development-focused fund for crypto startups in Asia. According to the announcement, the fund will kick off with an initial investment of $100 million.

While the funding will prioritize Asian projects with clear roadmaps and experienced teams, Bitget plans to seek out venture capitalists and web3-friendly startups globally. Potential partners in Bitget’s funding initiative include venture capitalists such as ABCDE Capital, Foresight Ventures, and many more.

Bitget’s Web3 Fund Support Initiative in Detail

The crypto exchange has been a committed supporter of several initiatives focused on advancing crypto adoption. Its new funding initiative further reflects the exchange’s commitment to that course.

In a statement, Gracy Chen, Bitget’s managing director, highlighted the reason behind the exchange’s new Web3 fund. Notably, Bitget has identified that supporting Web3 projects is a key to further advancing the growth in the Web3 space and making it a global industry.

According to the executive, it is why Bitget’s Web3 fund targets outstanding projects with real-world solutions and the most impact in Web3 development. In addition, Chen noted that the platform’s team outlined the criteria for project selection and will adhere strictly to them.

The exchange has already received support from many venture capitalist firms, including Foresight Ventures, DAO Maker, ABCDE Capital, and Dragonfly Capital. More so, Dragonfly recently revealed a $10 million investment in Bitget to support the exchange’s global expansion plans.

A Bitget’s press release

Go to Source to See Full Article
Author: Jammy Hunts

Did you like this?
Tip BTC Newswire with Cryptocurrency