Coin98 Vietnam’s Web3 Alliance98, creator of the decentralized finance (DeFi) ecosystem, has launched a $25 million ecosystem fund dedicated to accelerating Web3 startups in Asia.
According to reports on November 7 announcement, the fund will provide financial and strategic support to selected startups. Additionally, startups can use the company’s existing Viction Layer-1 blockchain infrastructure to enable low-gas transactions and enhanced security.
Another key aspect of the Ninety-eight Ecosystem Fund is its native token $C98, which was originally designed as a wallet token. The $C98 token allows users to store, send, receive and manage crypto assets, as well as connect to decentralized applications on more than 40 blockchains. Its eponymous DeFi platform provides users with services such as cross-chain exchange, staking, and liquidity mining.
“In order to ensure the effective deployment of ecological funds, we entrust Arche Fund, a venture capital institution within the Ninety-eight Ecosystem, to manage it. Arche Fund will be responsible for overseeing the fund and working closely with selected new startups to maximize its use. Potential. “
June, company roll out Vietnam Future Fund specifically supports Vietnamese Web3 startups. “Having overcome numerous challenges on the road to global expansion, Coin98 understands the obstacles that Vietnamese startups often face in the early stages of going global,” the company said at the time.
Vietnam currently has the highest cryptocurrency adoption rate in the world, with 19% of adults saying they own digital assets, according to blockchain analytics firm Chainaanalysis. Despite this, only nine educational institutions in Vietnam offer blockchain courses, and the Southeast Asian country has only eight blockchain infrastructure projects.
Related: Thailand National Airdrop, Delio Users Screwed, Top Crypto Countries in Vietnam
Svlook
