The Indian cryptocurrency ecosystem, known for its rapid grassroots adoption of crypto, is now drawing the interest of prominent international players in the industry. Bitget, a crypto trading platform, has expressed a willingness to support promising cryptocurrency startups emerging from India. According to the latest iteration of Chainalysis' Global Crypto Adoption Index, India has secured the top spot out of 154 countries in terms of the most profound and swiftest integration of cryptocurrencies into its existing financial systems.

Bitget has decided to inject $10 million (approximately INR 83 crore) into early-stage Indian cryptocurrency firms over the next five years to support and nurture valuable initiatives during the volatile market conditions. This funding initiative is part of Bitget's 'Blockchain4Youth' project, as per the company's announcement.

Gracy Chen, Managing Director at Bitget, commented on the development, stating, "India's remarkable progress in the blockchain and cryptocurrency space makes it a prime investment destination in Asia". Bitget has outlined specific eligibility criteria for its startup pitch program. Cryptocurrency projects seeking funding must be India-based, demonstrate a functional minimum-viable product with genuine use-case potential, and exhibit robust security measures with readiness for regular audits.

Furthermore, developers working on DeFi, GameFi, Metaverse, NFT, and blockchain-AI solutions can also seek funding from Bitget. It's worth noting that Bitget has previously expressed a strong interest in investing in Asia's emerging crypto sector. In April of this year, Bitget established a self-funded pool of $100 million (approximately INR 819 crore) to support promising Web3 projects emerging from Asia.