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Binance Labs Grants $15,000 Each To First Three Open-source Fellowship Projects

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Binance Labs, the venture arm of cryptocurrency exchange Binance, announced its first round of grants for open-source Fellowship projects to support developers and researchers in creating free and open-source projects.

The first round of grants of $15,000 each was announced for three open-source Fellowship projects - Ironbelly, a mobile wallet for the Grin blockchain; HOPR, a privacy-preserving messaging protocol; and, Kitsune Wallet, an upgradeable on-chain wallet.

The three projects will join Binance Labs Fellowship as the first "Fellows." Under the fellowship, developers and researchers will receive guidance and resources from the Binance Labs network, which includes a wide network of founders, researchers, portfolio companies and developers.

The fellowship is granted to support early-stage projects from developers who want to create the key building blocks and infrastructure for the entire blockchain industry. It will enable new innovations and businesses in the cryptocurrency economy.

Binance Labs said Ironbelly, HOPR and Kitsune Wallet are accepting matching contributions through Gitcoin Grants on grants received before April 19.

Recently, Binance Labs said it would co-invest in blockchain and cryptocurrency related projects in Argentina, with the Argentine government partnering it in investments being made in blockchain-related projects in the country over four years. It will invest in up to 10 blockchain projects each year.

In November last year, Binance Labs had announced a $3 million investment in US over-the-counter or OTC crypto trading desk Koi Trading.

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