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The government of Argentina has agreed to co-invest in blockchain projects that are backed by Binance Labs and Latin American crypto exchange LatamEx, a press release shared with Cointelegraph on Wednesday, March 6, reveals.
Binance Labs, the investment and social impact arm of top cryptocurrency exchange Binance, has recently chosen Argentina’s capital, Buenos Aires, as the Latin American hub for the next season of the Binance Labs Incubation Program.
Following the decision, the country’s Ministry of Production and Labour has signed an agreement with Binance, committing to match investments of up to $50,000 in each project. According to the release, the Argentine government will fund up to 10 blockchain projects each year over a four-year term.
Investments will be funneled
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