One of the leading cryptocurrency exchanges Bibox is officially launching a blockchain incubator for various projects. The incubator is called Bibox Orbit and is viral in the cryptocurrency news after an announcement published on March 30.
Meanwhile, Bibox is the ninth largest cryptocurrency exchange in terms of adjusted trading volume. The Estonia-based exchange has revealed that this is going to be an amazing incubator for blockchain projects.
Even though the announcement does not specify the exact date of the launch of this project and only says that the project aims to provide the best growing environment for blockchain projects, we will hopefully hear more details about this in the near future.
“Bibox Orbit gathers the years of accumulated valuable experience and quality resources of Bibox team. It is aimed to provide the best growing environment for high potential blockchain projects and assist them with ecological construction and long-term development. Bibox Orbit will be the strongest foundation for them to open the gate of the global market,” the official announcement notes.
As a reminder and a similar move to this, the major cryptocurrency exchange Binance expanded its services in August 2018 by launching an incubator program that was dubbed Binance Labs The initiative was meant to help early-stage blockchain and digital assets projects and entrepreneurs through direct investments and technical assistance.
As a track reminder, Binance Labs has been live and last month released its first batch of blockchain projects from the Incubation Program which took place within the incubator. The incubator selected only eight projects, each of which received $500,000 in seed funding and access to necessary resources and mentors.
This is not the only similar move in the crypto waters, however. In February this year, the IOTA Foundation partnered with the startup incubator Nova in order to fund new startups employing the platform through the “IOTA Cofoudery” program.
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