Binance unit launches $1 billion fund to fast-track blockchain tech adoption

FILE PHOTO: The logo of Binance is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in Ta' Qali, Malta October 3, 2019. REUTERS/Darrin Zammit Lupi

(Reuters) - Binance Smart Chain, a unit of crypto exchange Binance, said on Tuesday it had launched a $1 billion fund to help fast-track adoption of digital assets and blockchain technology.

A total of $500 million from the fund will be reserved for investments to help grow decentralized computing, gaming, metaverse, virtual reality, artificial intelligence and blockchain-based financial services, BSC said.