Cardano is investing $ 100 million to finance decentralized financial projects-

Emurgo, the financial arm of the leading cryptocurrency project Cardano, has announced that it will invest $ 100 million in the development of decentralized financial-based products for the ecosystem. The company will found two subsidiaries for this task, one of which is fully designed to create incentives for starting start-ups based in Africa that use the Cardano Blockchain in the development of their products.

Cardano wants to advance ecosystem with $ 100 million

Emurgo, the financial arm of Cardano, is Planning to boost the development of cardano-related products by steering $ 100 million into two new investment instruments. The subsidiaries will have different focal points, but both will contribute to the expansion of the Cardano ecosystem.

The first named Emurgo Ventures will have the task of providing interesting companies that include Cardano in the development of their products with start -up capital. These products could include NFT platforms and decentralized financial platforms (Defi) to the newly developed capabilities was activated.

said Emurgos Ceo Ken Kodama:

We concentrate more than ever to accelerate the development of the Cardano ecosystem with a rich mix of decentralized services for a global community, the general blockchain awareness of which is increasing.

prioritization of Africa

The representatives of Cardano have a clear goal, namely the first to use Africa's potential when introducing cryptocurrency -based solutions. This is due to the fact that the region suffers from financial inefficiencies and has a large proportion of residents without bank details.

To meet this demand, Emurgo founded his second subsidiary called Emurgo Africa. The aim of this subsidiary is to support 300 startups in the region through seed financing and incubation in order to make Cardano one of the most used chains in the region. According to statements, this financing will prioritize projects that Cardano use to provide socially effective solutions compared to other types of projects.

All of these solutions are aimed at creating a rich decentralized financial ecosystem that uses the new intelligent contracts that are used with the alonzo Hard fork beginning of this month. The goal is to build a dynamic defi ecosystem to compete with other solutions that are already known from their platforms such as Ethereum, Solana and Avalanche.

What do you think of Emurgo's investment to create incentives to use Cardano? Tell us in the comment area below.

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