Binance is planning to conduct India’s first Defi Ecosystem hackathon for India which will be aiming at accelerating DeFi innovation in the country. Binance, one of the biggest global crypto exchange, wants to accelerate DeFi focus India, and claims this hackathon to be ‘Build for Bharat’ initiative.
In a blog posted by Binance, they emphasized their intention to bridge the gap between blockchain adoption and mass adoption in India. After assessing the applications submitted before 11th September, Binance will be shortlisting 100 teams for the main event. While the focus will be around DeFi, Binance is willing to accept projects revolving around fiat-to-digital asset gateway solutions, trading platforms, payment and remittance solutions, digital asset wallets, and stablecoins.
In spite of the DeFi ecosystem of India being relatively small, Binance is expecting large participation due to the exposure and marketing the hackathon will get through its partners.