Argentina is investing in early-stage blockchain developer teams across the country. In an effort to expand the cryptosphere and support groundbreaking blockchain-based projects, Argentina’s Ministry of Production and Labour will support every Argentine blockchain project that receives funding from Binance Labs and Argentine crypto exchange LatamEx with matching funds of up to $50,000.
The co-investment agreement will pair funds from the Argentine government with backing from the venture arm of crypto exchange Binance and from LatamEx through Founders Lab, a blockchain accelerator platform for entrepreneurs. Throughout the four-year term, the government will match investments in up to 10 blockchain projects each year.
The goal is to channel government resources into solving local issues by supporting blockchain-based products and services.
Binance Labs is kicking off its second season, working with entrepreneurs around the world. Launching on March 25 for seven weeks, the accelerator platform will develop startup projects in seven continents simultaneously with an on-site incubation location in Buenos Aires.
Around the globe with Binance Labs
- Africa: Lagos, Nigeria
- Asia: Hong Kong and Singapore
- Europe: Berlin, Germany
- North America: San Francisco, California, US
- South America: Buenos Aires, Argentina
Says Pablo Orlando, founder and CEO of LatamEx and Founders Lab,
‘‘Latin America presents one of the most attractive markets for blockchain adoption and real use cases, and Argentina is leading the way by serving as the market-opening gateway.’’
Binance Labs will also provide regulatory and legal advice, recruiting, technical execution, fundraising and marketing resources for the upcoming blockchain projection.
Selected participants will be announced on March 11th.