Fuse Network has unveiled a $10 million grant program to support businesses by providing essential funding and infrastructure for streamlined access to Web3 payment systems
The Web3 Business Grant Program aims to empower businesses worldwide, simplifying the complexities associated with Web3 payment infrastructure development.
The organisation says in a statement that the grant initiative also aims to drive the evolution of Web3 technology and meet global business needs. Focused on powering Web3 and advancing mainstream adoption, this program simplifies non-custodial consumer fintech applications, ensuring efficiency and reliability.
“Fuse is committed to fostering a thriving ecosystem for Web3 innovation,” said Mark Smargon, CEO and Co-Founder at Fuse. “Our grant program is a testament to our dedication to providing essential resources for businesses to flourish in the Web3 landscape.”
Applications for the program are open to innovators from various sectors, including businesses seeking to bolster user acquisition strategies through Web3 communities, fintech firms aiming to implement non-custodial mobile solutions, companies looking to digitize their consumer clubs or create digitized loyalty, fintech addressing various payment-related pain-points such as unbanked communities and digital identities or currency volatility. CEXs exploring non-custodial wallet solutions, Web3 startups requiring a resilient EMV-compatible network with fee sponsorship (gasless transactions), business apps interested in crafting branded stablecoins for enhanced brand visibility, local payment solutions eyeing global expansion, and many other creative use cases that can benefit from the Web3 technology can also apply.
With a tailored ecosystem and infrastructure, the Web3 Business Grant program offers a stablecoin-focused payment system, enabling businesses to navigate the intricacies of blockchain effortlessly. This system ensures rapid, cost-effective, and global transactions while liberating businesses from vendor lock-in through open-source API/SDKs and a standard EVM blockchain environment. Participants in the Web3 Business Grant Program will gain exclusive access to Fuse Network’s tailored ecosystem and robust infrastructure. Successful applicants will receive grants designed to facilitate the development of pioneering payment systems.
“I believe that the future of payments lies within Web3, and Fuse is driving that future. Our grant program reflects our commitment to supporting projects that harness decentralized blockchain technology’s potential.” Ira Lakhman, Chief Operations Officer at Fuse said.
Successful applicants can expect a final decision within two weeks after submission.