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Blockchain News

Bibox Exchange to Mount a Blockchain Incubator

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According to one of the announcements published on March 30, Bibox (Leading crypto exchange) is rolling out an incubator specifically for projects related to blockchain technology dubbed Bitbox Orbit. Bibox, which is based in Estonia is amongst the top to cryptocurrency exchanges in terms of trading volume. The exchange has officially told that it will be floating and incubator for blockchain products which will be called Bibox Orbit.

However, the announcement didn’t give out any fixed date of the launch. All it says is that it is aimed to provide the best growing environment for high potential blockchain projects and assist them with ecological construction and long-term development.”

In the month of August previous year, Binance ( major cryptocurrency exchange) spread its services by floating an incubator program called Binance Labs. The intention was to help and support early-stage blockchain related projects and digital assets projects along with entrepreneurs through direct investments and technical assistance.

Binance Labs came out with the first lot of blockchain projects straight out from their incubation program. Binance Labs after a try-out tour with over 500 applicants shortlisted only eight projects and each of the selected project received a funding of $500,000 in seed funding along with enabling them to access required resources and mentors.

The Iota Foundation (the firm behind eponymous cryptocurrency) joined hands with Nova (startup incubator) intending to fund new startups engaging Iota’s platform via “Iota Cofoundery” program on Nova’s website. Reports suggest that the initiatives mainly focus on startup development (at an early stage) and seed funding while also granting a list of shortlisted startups with the access to Nova’s guidance program and tech team which has over 20 startup consultants.

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