Core DAO launches fund to support Web3 projects in Africa

Africa is becoming a key player in the Web3 world, and Core DAO is reinforcing this trend by launching a $5 million African Innovation Fund to support localized blockchain startups. Here are the key facts from official sources:

Web3 in Africa

• $117.1 billion is the volume of onchain transactions in Africa over 2022-2023, according to a Chainalysis report.
• 60% of the population under 25 is the youngest and most tech-savvy audience in the world, driving the growth of cryptocurrencies.
• Crypto transactions growth of 1200% over 2020-2021, especially in the niche of cross-border payments and DeFi.

What does the Core DAO fund offer?

1. Grants and investments - funding for projects in the areas of:
   • Stablecoins and cross-border payments (relevant for Africa where 80% of remittances are international).
   • Supply Chain and DeFi loans - e.g. tokenization of farmers' crops.
2. Tech support - access to the expertise of Core Chain, a unique L1 blockchain compatible with Bitcoin and Ethereum.
3. Partnerships - connection to venture capital funds and gas pedals including Bitget and MEX.

💡 Why it matters.

Africa isn't just using Web3 - it's creating sustainable solutions to global challenges, from financial exclusion to supply chain transparency. The Core DAO Foundation is a bridge between local startups and global resources.

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