Argentine authorities are investing in blockchain startups supported by Binance

The Argentine government intends to invest in blockchain-startups in the early stages of development, supported by the venture capital unit of cryptobirge Binance. It is reported by CoinDesk .

The local labor ministry announced it would allocate $ 50,000 for each Argentinean blockchain start-up funded by Binance Labs as part of the second phase of the incubation program. In addition, LatamEX Crypto Exchange will receive targeted funds for development.

The agency plans to support up to 10 blockchain projects annually for four years. Investments in promising startups will come through the local blockchain accelerator Founder Labs.

Recall that Binance intends to launch a crypto-exchange in Argentina with the support of fiat currencies.

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