Argentinian Government to Invest in Blockchain Projects Backed by Binance Labs, LatamEx

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The government of Argentina is set to invest in early-stage blockchain startups backed by the venture arm of cryptocurrency exchange Binance.

The country’s Ministry of Production and Labour announced Wednesday that it will match investments of up to $50,000 into every Argentinian blockchain project that receives funding from Binance Labs via the second season of its incubator program, and LatamEX Founders Lab.

The ministry plans to invest in up to 10 blockchain projects each year for a period of four years, and will make the investments through Founder Labs, a local blockchain accelerator.

‘‘Latin America presents one of the most attractive markets for blockchain adoption and real use cases and Argentina is leading the way by serving as the market-opening gateway,’’ said

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