Binance, one of the world’s largest digital money exchange platforms, has announced that it wants to launch a fund (“Social Impact Fund”) to support companies that operate in the field of cryptocurrencies.
According to the head of the “Binance Labs Ella Zhang” program, the money for the fund comes from the company’s reserves. The funds will be gradually allocated, during 10 phases, $ 100 million at each stage.
Binance will invest in this fund through its BNB token.
“We believe this is a disruptive social experiment: Binance Labs hopes to work with more ambitious projects to explore blockchain applications and at the same time advance the growth of the sector,” said Zhang.
Binance also announced that it has added the IOTX token to its exchange and now allows trading for the IOTX / BTC and IOTX / ETH pairs, the announcement triggered a bullish run on the currency that is increasing by 121% today, the token has a unit price of $ 0.063076.
Yesterday, four new trading pairs were added, Ripple XRP – Binance Coin, Stellar Lumens and IOTA with USDT and TUSD / USDT
All these markets join the list of the binance platform which includes more than a thousand digital coins.