Binance Labs has chosen Buenos Aires as the Latin American center for the second generation of its Incubation Program.
In a recent announcement, Binance stated that the Argentine Ministry of Production and Labour will provide US$50,000 in financial support to every startup that gets Binance Labs’ approval and funding. The government will operate through Founders Lab, a local blockchain accelerator, and will have a limit of 10 projects per year for the next four years.
With Argentina’s currency crises and a history of banks restricting customer access, blockchain and crypto projects are finding success in the country.
‘‘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’s gateway,’’ said Pablo Orlando, founder and CEO of LatamEx and Founders Lab.