OKX, a global cryptocurrency exchange, is gearing up to expand its web3 services and expertise in India through a comprehensive three-fold approach. With a keen eye on technological advancements in the country, OKX aims to establish a significant presence in the web3 landscape. As part of this initiative, OKX plans to bolster the Indian Web3 community by offering grants ranging from $25,000 to $75,000 for promising projects.
Representative Haider hinted at OKX’s potential role as an incubator or provider of developer funding while actively supporting events across 400 colleges. These efforts aim to bolster the brand, educate, and foster partnerships with developers and engineers.
Furthermore, OKX is exploring a partnership with Polygon, renowned for Ethereum-compatible scalability, aiming to attract more Web3 applications to both ecosystems. Emphasizing education and skill development, OKX eyes collaboration with India’s developer student groups and has earmarked $1 million for developer grants and promotional activities.
While India’s strides in the Web3 domain have captured global attention, challenges persist due to regulatory measures, including a 30% tax on crypto trading proposed by Finance Minister Nirmala Sitharaman. Despite this hurdle, ongoing collaborative efforts and industry momentum continue to drive India’s Web3 ecosystem forward, reflected in initiatives like the upcoming Indian Blockchain Week in Bangalore, hosting over 60 web3 events with active participation from learners and educators nationwide.
