Global cryptocurrency exchange Bitget and layer-1 blockchain Avalanche are joining forces to empower India’s burgeoning Web3 scene with a $10 million initiative.
The partnership will see the two entities launching a series of programs and events to support and promote blockchain development in two of India’s largest cities, Delhi and Bangalore. The initiative will include a $5 million micro-grant program, community events, and educational programs, aiming to train the next generation of blockchain talent.
The initiative comes amid a rapidly expanding interest in crypto among the Indian population. According to data from CoinSwitch, the country saw a massive surge in crypto investors in 2024, especially in Delhi, Bengaluru, and Mumbai.
The majority of the new investors were young adults between the ages of 18 and 35, making up nearly three-quarters of the investor base. While Bitcoin and Ethereum remained the most popular coins, memecoins like Dogecoin, Shiba Inu, and Pepe also attracted significant attention and capital.
The timing of this initiative also aligns with renewed interest from major global exchanges in the Indian market. Bybit recently resumed services in the country following the completion of local registration, and Coinbase is reportedly in talks with Indian regulators for a return to the market.
On a broader level, India is also seeking to become a key technology partner to the United States. The two countries are currently negotiating a bilateral trade agreement that could help India avoid the Trump administration’s tariffs and gain greater access to American tech exports.
According to Web3 investment firm Hashed Emergent, India is currently home to 12% of the world’s Web3 developers and was responsible for 17% of all new developer entries into crypto in 2024.
As this talent pool continues to grow, partnerships like the one between Bitget and Avalanche could play a crucial role in shaping India’s future in decentralized technologies.
