Ex-Binance executives launch $100 million crypto fund for Latin America and Africa

Ex-Binance executives launch $100 million crypto fund for Latin America and Africa
Photo by Bermix Studio / Unsplash

Old Fashion Research, a group founded in 2021 by the former executives of Binance has launched a $100 million fund to support crypto adoption and expansion in emerging markets– Latin America and Africa.

  • The funds will focus on supporting metaverse and cryptocurrency projects in the regions.
  • The group has earlier invested in over 50 blockchain projects including Nansen, a blockchain analytics platform, WOO Network, a trading platform, and Metaverse Magna, an Africa-based gaming platform.
  • WEMIX led the investment round with participation from traditional VC funds, family offices and angel investors.
  • Ling Zhang, former vice president at Binance, and Wayne Fu, former head of corporate development at Binance founded the group.