Binance Labs set to launch incubator programs in 5 new Cities

14 Dec, 2018
Binance Labs set to launch incubator programs in 5 new Cities

Binance is set to continue its rapid expansion following the news that the world's number one cryptocurrency exchange will be spreading its venture wing, Binance Labs to five new cities. 

Coindesk reported that Binance Labs will be launching five new incubator programs in Berlin, Buenos Aires, Lagos, Singapore and Hong Kong starting March 2019. 

Binance Labs looks to continue pushing for success in early stage blockchain projects with the new incubator program, which will be offering 10-week onsite programs concluding with a three-week trip to Singapore where the projects can demo their work. 

Binance Labs, which began business in early 2018, has previously chosen 8 projects which it funded $500,000 each. 

Recap: Binance Labs invests in blockchain content platform Contentos

Binance Labs will be looking to get involved in emerging markets such as Latin America and Africa as Ella Zhang, Head of Binance Labs believes “Those two emerging markets have native blockchain and crypto use cases. So we hope to find teams solving local problems like payments, the instability of local currencies, or remittance problems.”

The goal of the new incubation program will be to grow a community of builders that can create high quality projects, with the goal of eventually aiming to be listed on the exchange. Successful graduates of Binance Labs will be able to use Binance as a pedestal to promote their project. Zhang explains "Some of our enterprise solutions will have Binance adopt them as clients,”

The ability to now pick incubator projects from around the globe will make it harder for team to be selected, essentially making the quality of teams and products that more competitive.

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