Global cryptocurrency exchange Binance Group has set up a $50 million 'Blockchain for India' fund to incubate and invest in blockchain products and startups in the country. The fund will make investments in startups in both equity and tokens ranging from $100,000 to $5 million. The announcement comes days after the Supreme Court struck down restrictions around trading of cryptocurrencies in India. The RBI's April 2018 circular, which the SC struck down, had effectively banned trading of cryptocurrencies in India, crippling exchanges, as it cut them off from the formal economy. The fund will make other investments, including in fiat-to-digital assets gateway solutions, trading platforms, payment and remittance solutions, digital asset wallets, DeFi (decentralised finance) platforms and decentralised applications. "Apart from funding transformative blockchain projects in India, we look forward to collaborating with other investment funds to grow the ecosystem…
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