Colleges in Australia, Cyprus, and Germany; Utiva, a tech hub based in Nigeria; Women in Tech; and two Ukrainian organizations are a few of the educational institutions participating in the Binance Web3 scholarship for 2023. 

The charitable arm of Binance

In 2023, Binance Charity, the charitable arm of Binance, plans to give 30,65 scholarships to students who are interested in pursuing a career in Web 3.

In a blog post published on January 20, the Binance Charity noted that its Binance Charity Scholar Program (BCSP) will offer free Web3 education and training classes that will allow tech-savvy students to advance their skills without having to jump over any extra financial hurdles. The blog post read:

“We recognize that digital education and skills development can be out of reach for many, resulting in a blockchain industry that lacks diversity and talent. The Binance Scholar Program changes all that, covering the costs of tuition and course fees at some of the world’s leading universities, colleges and vocational training providers.” 

According to the blog post, more than 82,000 applicants expressed interest in joining the upcoming BCSP cohort, translating to an acceptance rate of roughly 37%. The University of Nicosia in Cyprus, the University of Western Australia, the Frankfurt School of Finance and Management in Germany, and a technology hub called Utiva in Nigeria are just a few of the educational partners joining the training. 

Some of the BCSP activities will also be held at Simplon, a tuition-free training facility in France, as well as at locations sponsored by Women in Tech, the Kyiv IT Cluster, and the Ukrainian Ministry of Digital Transformation.

Binance Academy to support Binance charity

In order to assist Ukrainians who might have lost their employment as a result of the conflict with Russia, Binance Charity says they teamed up with the departments located in Ukraine.

Also, through their collaboration with Women in Tech, they hope to train roughly 3,000 women in rural Brazil and South Africa in order to support upcoming female entrepreneurs. Also, Binance Academy, the organization’s non-profit blockchain education portal, will provide cooperation and support to Binance Charity.

More than 290,000 hours of Web3 education and training courses were funded by more than $3.5 million in donations to Binance Charity in 2022, the majority of which came in the form of the company’s currency, Binance USD (BUSD). A tweet posted from Binance’s official handle in December read:

“Our @BinanceBCF team has traveled across the globe this year, offering help and education to those in need. As we roll into the new year, let’s look back on everything #Binance Charity has achieved in 2022.”

“The response to our Web3 education projects has been unprecedented, showing the keen appetite of so many people to learn about blockchain, De-Fi, NFTs, coding and much more.”

Helen Hai, the CEO of Binance Charity, claimed that the program’s popularity is exploding. She noted that:

“We’re seeing interest from a diverse range of people, including a great ratio of women… With so many more education initiatives with amazing partners in the pipeline, we’ve never been more excited to build a more inclusive Web3 world.”

Also, the start dates for each of the scholar programs as well as when the 30,000+ slots would be filled were not made official by Binance Charity.

SWIFT, Binance’s banking partner, to stop processing USD transfers under $100,000

On January 21, Binance emailed its “Binancians” with the news, emphasizing that they are currently “actively seeking” a replacement for its SWIFT (USD) partner to prevent service interruptions for upcoming bank payment transfers.

The downtime will take place on February 1, and users with US bank accounts intending to purchase or sell cryptocurrencies for under $100,000 over the SWIFT payment system will be affected by the service interruption.

The bitcoin exchange noted that the banking partner had made this choice and that other trading platforms would also be impacted by it.