The Argentine government announced that it will support Binance Labs' activities in the country. The cooperation is crucial for the development of crypto and Blockchain technologies in Argentina.
Organizing various events and meetings in the country, Binance has become an unwavering part of Argentina's global development plans. Binance Labs also announced that it will establish its regional incubation center in Buenos Aires, Argentina. The program will be launched by mid-month, and Argentina will play a key role in the Blockchain and crypto money technologies in the region.
Grant to Projects
The Argentine Ministry of Production and Labor promised to support Binance Labs and LatamEx as part of the Acceleration Program. The Argentine government, together with the agreement, will support up to 50,000 dollars in each project that Binance Labs invests. The agreement is limited to 10 projects per year.
: Ella Zhang, the head of Binance Labs, explains why Argentina has a unique position on the adoption of Blockchain technology:
Argentina is one of the countries that has embraced the adoption of Blockchain technology. During our visit there, we saw that the country hosted many passionate Blockchain projects.
Our job as Binance Labs is to uncover the potential of Blockchain initiatives. Therefore, we will provide global solutions to their problems by supporting the projects and developers in the region through our incubation program in Buenos Aires.
Bitcoin in Public Transport
The Argentine government has accelerated Blockchain and crypto money breakthroughs to prevent recession in the country's economy. Many Bitcoin ATMs have been set up recently in the country, and the number of businesses that accept payments with Bitcoin has increased. In recent months, we have announced that Bitcoin is now being used as a method of payment for public transport in Argentina.