Binance Funds 40 Developers to Build Open-Source Crypto Software

One of the world's largest crypto exchanges has launched an initiative to boost open-source blockchain development.

AccessTimeIconAug 30, 2019 at 4:00 a.m. UTC
Updated Sep 13, 2021 at 11:23 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Malta-based crypto exchange Binance wants to spur greater research in open-source blockchain development.

To that end, the exchange unveiled Binance X on Thursday, announcing that it was funding more than 40 developers conducting research into open-source crypto software. Binance X also hopes to facilitate collaboration in the Binance ecosystem by providing resources to projects in various stages of development and tap blockchain "evangelists" to foster education around the space.

For promising developers, Binance X offers a fellowship program focused on research and development of open-source blockchain software. More than 40 project leads have already signed on as Binance X fellows, though the exchange has not revealed how much funding these individuals will receive. Applications are accepted on a rolling basis.

The platform is designed to serve as a cryptocurrency-focused counterpart to X Development, the research and development subsidiary of Google parent company Alphabet. In addition to providing financial support, Binance X is also rolling out educational initiatives for developers and the public.

"The Binance X team will help educate, create opportunities for collaborations and jumpstart growth of these projects via the different programs and resources we have at Binance," Teck Chia, head of Binance X, said in a statement.

By leveraging the existing ecosystem – including Binance Chain, APIs, Trust Wallet SDKs and the Binance Charity donation platform – Binance X says it will support educational advancement at every level "from noobs to seasoned developers."

To draw in these "noobs," Binance X's sponsored evangelists will host blockchain workshops and reading groups at colleges and similar venues to recruit and educate individuals.

Changpeng "CZ" Zhao photo via CoinDesk archives


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about