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BitGet, a crypto exchange based in Seychelles, has launched a $100 million fund for Web3 startups as Asian nations develop a Web3 development framework.
In the past few months, countries in East Asia have been working to promote cryptocurrencies. For instance, last week, Japan approved a whitepaper on Web3 development and Hong Kong appeared to be loosening crypto regulations.
"BitGet has always supported promising and creative projects and the development of the Web3 environment, with a focus on BUIDL," despite the bear run. The send-off of BitGet Web3 Asset is a continuation of our continuous endeavors to drive the reception of crypto and Web3, mirroring our 'Go past subsidiary' procedure in 2023," Gracy Chen, the Overseeing Overseer of BitGet, shared with CoinDesk in an explanation.
According to a BitGet spokesperson, the fund is self-funded. Due to its steady growth and rapid expansion, BitGet is debt-free and has sufficient cash flow, "she stated.
After BitGet invested $30 million in the decentralized multi-chain wallet BitKeep, the launch of this fund follows.
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