Binance CTO Announces Investment Plans In Several Indian Web3 Startups

Key Points:

• Binance says India is the hub of web3 innovation.
• Binance is also looking to invest in Indian web3 startups.
• The crypto exchange also intends to hire tech experts from top Indian universities.

Binance’s Chief Technology Officer Rohit Wad revealed in an interview with Businessline that Binance has been paying close attention to the Indian blockchain ecosystem.

Wad revealed that Binance has closely observed the Indian blockchain scene and has found a number of interesting firms and businesspeople. Since India has a lot to offer in terms of technical skills and expertise, Binance’s main objective would be to create a thriving community of developers and coders interested in learning more about decentralized technologies.

“There is going to be a tremendous boom, in the innovation that comes out of India. In fact, as a beginning step, I would like to see if we can find interns in India and get them bootstrapped on crypto,”

He said

India is seen as a hub of Web3 innovation, and Mumbai is one of the cities where the company plans to recruit talent. He intends to recruit engineering talent from India’s leading universities and technology institutions.

Wad intends to hire additional interns from the list of cities, which also includes Mumbai, Toronto, and Vancouver. As a remote-first business, Binance can successfully recruit people from a variety of international tech hubs.

According to Wad, Mumbai is one of the top worldwide locations for innovation incubation, and Binance plans to hire students and faculty from Mumbai and other Indian tech colleges and universities.

Wad’s interest in India’s tech talents comes close on the heels of a recent survey by Nasscom, and a web3 venture capital fund that said India, with its huge talent pool, is all set to play a key role in global web3 transformation.

As in previous Coincu News article, Binance Founder and CEO Changpeng Zhao emphasized India’s position in web3 and the metaverse, saying the country is a “natural frontrunner” in the creation of the next generation of blockchain applications.

India already has 450 startups in the web3 space, with four of them having achieved unicorn status in the past year.

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