Provenance Blockchain Foundation, which catalyzes the adoption and development of the public and open-source Provenance Blockchain, today announced the launch of a $50 million grant program for blockchain developers (the "Provenance Blockchain Grant Program"). Provenance Blockchain Foundation believes that this is the largest blockchain development grant pool offered specifically for the regulated financial services sector.

The Provenance Blockchain Grant Program will award $50 million in HASH (HASH is the native token on Provenance Blockchain) to support developers building core services and experiences that enable the full digitally-native lifecycle of regulated financial assets on blockchain technology.

Provenance Blockchain Foundation will evaluate grant applicants based on a number of factors, including their ability to contribute to asset perfection, asset origination, on/off ramps, security, compliance, wallets, identity, developer tools, and new financial asset use cases. Additionally, all projects awarded grants must undergo "Know Your Customer" screening.

"Successfully enabling open innovation is how financial services will be meaningfully improved for businesses and customers globally," said Morgan McKenney, CEO of Provenance Blockchain Foundation. "That is why the launch of our grants program is such an exciting milestone, further deepening our collaboration with talented and diverse developers who want to create an enduring and sustainable ecosystem for launching and managing real-world digitally native financial assets on-chain and enable the ongoing mainstream adoption of blockchain technology in financial services."

"The Provenance Blockchain grant program is carefully designed to ensure Provenance Blockchain hosts the highest quality ecosystem of developers building services specifically for regulated financial services," noted Joshua Maddox, Head of Developer Ecosystem at Provenance Blockchain Foundation. "This program is not simply a grant; the Provenance Blockchain Foundation will partner directly with developers to make onboarding and solutioning simple, to promote networking with other developers and ecosystem participants, and to support the announcement and promotion of their services. This is a win for developers who are passionate about meaningfully improving financial services and for the broader Provenance Blockchain ecosystem."

The Provenance Blockchain ecosystem provides an environment for open innovation, where developers, financial applications, and issuers come together to enable the full digitally-native lifecycle of financial assets. Developers on Provenance Blockchain have the opportunity to earn revenue from ecosystem participants who use their services.

In addition, the Provenance Blockchain Foundation will collaborate with and support developers beyond HASH-based grants by providing ecosystem introductions and networking opportunities, product promotion and marketing, and technical onboarding help. Interested developers can get started by visiting https://provenance.io/build/grants/grants-program.

About Provenance Blockchain

Purpose-built to transform financial services, Provenance Blockchain enables regulated financial service firms of all sizes to seamlessly and securely deploy and manage the full lifecycle of digitally-native financial assets at scale on a public blockchain, delivering material business and customer value.

Founded in 2018, Provenance is the leading public blockchain for financial services with over $12B in transactions supported. Part of the Cosmos ecosystem, the open-source blockchain is actively leveraged by more than 60 leading financial institutions across banking, private equity, and capital markets, lending, payments, and asset management. The native utility token, HASH, is used to pay transaction fees and enable governance.