Binance Actively Monitoring Indian Market to Identify Best Approach: Ken Li

The engineering talent and the emerging Web3 community of India has caught the eye of Binance, one of the largest crypto exchanges in the world.

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The company's incubation and venture capital arm called Binance Labs, which is gearing up for the fifth season of its incubation program, is expecting to onboard promising blockchain projects from around the world, including India, under its wings.

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The US-based crypto mammoth is actively monitoring India's local market environment to identify the best market approach, Ken Li, the investment director at Binance Labs, told Gadgets 360 in an interview.

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“We are currently fielding applications for the fifth season until the end of July. We focus on fundamentals and long-termism to select projects that will bring a direct impact on the blockchain industry.

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Web3 start-ups in India have great potential to grow,” said Li, who leads the incubation program for Binance. One project that Binance Labs boasts about having supported in its initial stages is Polygon.

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The eco-friendly blockchain, which has recently been picked by Disney to participate in its accelerator program, is an Ethereum layer-2 scaling solution developed by Indian co-founders Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.

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