Bitget has partnered Avalanche as part of the latter’s efforts to invest in the Web3 sector in India. Aimed at driving grassroots-level adoption of Web3 technology in the country, the partnership was announced by the Web3 firms on Monday. While Bitget is a Seychelles-based crypto exchange, Avalanche is an open-source layer-1 blockchain created at Cornell University and later led by New York-based Ava Labs. As part of the agreement, both firms plan to boost India’s web3 infrastructure to support crypto services and highlight blockchain use cases in the country.
Avalanche and Bitget will launch awareness campaigns and educational workshops related to crypto safety and blockchain exploration throughout the year as part of the “HODL ON” tours. Through these tours, the partnership will offer a platform to Indian Web3 startups to showcase their work and secure funding.
Two community meetups have already taken place in Delhi and Bengaluru in recent weeks, as the first leg of the tour went live. The firms said that India’s tech talent is capable of delivering world class Web3 applications if supported by timely grants, mentorship, and international exposure.
“Empowering users with the right knowledge is essential to unlocking the full potential of blockchain in India’s digital future. We’re committed to bridging this gap through community programs, partnerships with universities, and accessible learning tools,” Jyotsna Hridyani, South Asia Head at Bitget said in a prepared statement.
Bitget is currently working with the Financial Intelligence Unit of India (FIU-IND) to secure its mandatory registration that would legalise its operations in the country. Avalanche, meanwhile, is already working with state governments to shift public records onto its blockchain network.
India’s Growing Web3 Workforce
India is on track to overtake the US as the largest hub of Web3 developers by 2028, the India Web3 Landscape Report (2024) by Hashed Emergent claimed last month. The report claimed that India’s Web3 developer community grew by 28 percent in 2024, adding over 4.7 million developers to GitHub
Base blockchain developer, Jesse Pollak had also strongly backed the community of India’s Web3 developers last year. In conversation with Gadgets 360, Pollak had said that if developers could tap into some banking support in the country they would be able to create useful Web3 solutions.
Despite a lack of clear regulations to oversee Web3, the cluster of companies working around blockchain and crypto exceeded the mark of 400 last year. In its report last year, the Bharat Web3 Association (BWA) claimed that Karnataka has emerged as the hotspot for Web3 firms, housing at least 97 Web3 firms, followed by Maharashtra, Telangana, Haryana, and Uttar Pradesh.
In recent years, several companies and venture capital firms have initiated funding programmes aimed at assisting bootstrapped Web3 startups. These firms include PwC India, AlgoBharat, and the Solana Foundation among others.
