Bitget Token

<p>Bitget, the Seychelles-incorporated derivatives and copy trading platform, has unveiled its plan to invest significantly in Indian-based blockchain startups.</p><h2 id="header-0">$10 million fund</h2><p>The company <a href="https://www.prnewswire.com/news-releases/bitget-to-invest-in-indian-blockchain-startups-to-support-the-on-going-crypto-adoption-wave-301978409.html" rel="noopener noreferrer nofollow">announced</a> the initiative by way of a press release published by PR Newswire on Monday. This strategic move is part of Bitget’s<a href="https://medium.com/&#64;coinness.gl/bitget-launches-blockchain4youth-project-f49cbe31dca4" rel="noopener noreferrer nofollow"> Blockchain4Youth</a> (B4Y) initiative, which has earmarked a $10 million fund for Web3-focused projects.</p><p>Bitget revealed that the B4Y initiative kicked off on Nov. 6 and will continue until Dec. 4, coinciding with BUIDL for Web3, India’s multi-chain summit event. This summit, sponsored by Bitget in collaboration with Lumos Labs and BuidlersTribe, provides a platform for Indian startups to showcase their innovative concepts to Bitget as well as prominent venture capitalists.</p><h2 id="header-1">Nurturing Web3 startups</h2><p>The core objective of Bitget’s investment initiative is to identify and nurture high-potential projects within the cryptocurrency space, offering them financial support to drive innovation in cutting-edge technologies.</p><p>As part of the Blockchain4Youth project, Bitget has committed to deploying $10 million in investments over the next five years. Through complementary <a href="https://medium.com/&#64;coinness.gl/bitget-report-finds-gen-z-dominates-crypto-copy-trading-75258fef0bfd" rel="noopener noreferrer nofollow">research</a> the company has carried out recently, Bitget is likely to have identified that targeting the younger demographic is going to be good for business over the longer term.</p><p>Gracy Chen, Managing Director at Bitget, lauded the developing blockchain and crypto sectors in India. Chen emphasized India’s status as a prime investment destination in Asia, citing the country’s abundance of talent and entrepreneurial drive.</p><h2 id="header-2">BUIDL for Web3</h2><p>Notably, the BUIDL for Web3 initiative is set to attract a diverse array of developers and founders, celebrating their resilience and creativity. The month-long program will commence by shortlisting over 100 startups, ultimately selecting 10 to present their projects to Bitget and well-known venture capitalists such as Sequoia Capital, Lightspeed Venture and Draper Labs. To facilitate this process, Bitget has established a dedicated portal to receive applications from aspiring startups.</p><p>Chen stated:</p><p>”India’s resilience and constant advancements towards blockchain and crypto makes it the most wanted place to invest in Asia currently. The talent, the entrepreneurial spirit, it’s everything celebratory and we’re here to empower it. With our Blockchain4Youth, we look forward to accelerating the next big fours of crypto space.”</p><h2 id="header-3">Strategic investment</h2><p>The crypto derivatives platform has been active when it comes to investment recently. Last month, it unveiled a $100 million crypto ecosystem fund. Titled the EmpowerX Fund, the initiative was <a href="https://medium.com/&#64;coinness.gl/bitget-launches-100m-crypto-ecosystem-fund-625b08799f97" rel="noopener noreferrer nofollow">revealed</a> during the company’s fifth anniversary summit held in Singapore.</p><p>In April, Bitget <a href="https://medium.com/&#64;coinness.gl/sei-labs-raises-dollar50m-to-fuel-asian-expansion-a9f6bab9c17e" rel="noopener noreferrer nofollow">invested</a> $20 million into Sei Labs, the development company behind the Sei layer one blockchain. The company has been actively progressing various aspects of the business in 2023. In August it<a href="https://medium.com/&#64;coinness.gl/bitkeep-changes-name-to-bitget-wallet-following-acquisition-431489367c20" rel="noopener noreferrer nofollow"> rebranded</a> the BitKeep Wallet to Bitget Wallet following the acquisition of the Singaporean project earlier in the year. Integration of that business had added <a href="https://medium.com/&#64;coinness.gl/bitget-achieves-20m-users-with-wallet-integration-driving-trading-volume-aa1e4459e47f" rel="noopener noreferrer nofollow">additional users</a> to its platform such that it exceeded the 20 million user mark.</p><p>Bitget’s commitment to investing in the Indian blockchain ecosystem is a testament to the rapidly evolving landscape of crypto innovation in the country. However, India is not its only target market. In July, the firm indicated that it was looking to <a href="https://medium.com/&#64;coinness.gl/bitget-targets-mena-business-expansion-313ffec565ac" rel="noopener noreferrer nofollow">expand</a> further within the Middle East and North Africa (MENA) region.</p>

Bitget commits fund to bolstering Indian blockchain innovation

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