Government of Argentina to invest in local blockchain projects backed by Binance Labs and LatamEx

The government of Argentina is going to invest in local early-stage blockchain projects that receive funding from Binance Labs, the venture arm of cryptocurrency exchange Binance, and Founders Lab, the Argentine blockchain Accelerator.

For a four-year term, the Ministry of Production and Labour will match investments up to $50,000 from Binance Labs and LatamEx, via Founders Labs, in up to 10 blockchain projects each year. The funding will be granted through the Ministry’s Accelerator Program.

According to the official release, Binance Labs has selected Buenos Aires as the Latin American hub for Season 2 of its Incubation Program, which begins this month.

“[W]e are very excited to support blockchain projects, entrepreneurs and developers through our Buenos Aires chapter, to advise and mentor them, to find product-market fit, and provide them with in-time access to global blockchain technology development to solve local problems,” said Ella Zhang, Head of Binance Labs.

Founders Lab is the only blockchain accelerator that has been granted one of the Argentine government’s 10 Accelerator Licenses.

Binance Labs, in collaboration with Founders Lab, will host a 10-week incubation program for blockchain startups in Buenos Aires.

“Argentina, being hub to some of the best projects and entrepreneurs in the region will benefit tremendously from an ecosystem like Binance. I am confident the projects under the Binance Labs incubation program will contribute significantly to the blockchain community worldwide,” said Pablo Orlando, Founder & CEO of LatamEx and Founders Lab.