When Betcard, the digital currency company founded by billionaire Peter Thiel, acquired a $100 million investment in India’s software development industry in January, it was an opportunity to further expand the platform that was already one of the fastest growing in the world.
The investment comes as Indian IT professionals struggle to navigate the complexities of new regulatory and legal frameworks, while also looking for work that will help them break into the global tech market.
In January, Bet365, which is the world’s largest virtual currency exchange, became the first major digital currency platform to offer an open source software development training programme, which offers students a chance to gain experience developing software and applications on their own time.
With the help of the software developers who are now taking the bet365 software development traineeships, the company is launching an online platform in the country that allows its Indian students to build applications using a range of tools, including Python and Ruby, and to apply for jobs in India.
“We have a very large group of students from different disciplines and backgrounds.
They are very keen on this.
We see this as an opportunity,” said Amit Shukla, chief executive officer and cofounder of Bet365.”
It is a chance for them to go out and learn and do something that will improve their future,” he added.
Students at the Bet365 software developers training programme are being given a six-month leave from work, to allow time for their projects to be developed and tested.
“If they get a project completed, they can apply for a job, and if they are accepted, they will get a monthly salary,” said Gopal Bhattacharya, the founder of Betzone, which manages the Betcoin network.
Students will be offered a choice of six different courses, including one in Python, and a one-month internship, as well as access to a software development team, training courses and other opportunities.
“There are other opportunities like working in our technology office, helping us in our product development, and building an API for the platform,” said Shukala.
The Bet365 trainees programme, with more than 300 students, is a key component of Betcard’s plans to build out a new business model for the online currency exchange.
In March, the world largest online money transfer platform, Mastercard, announced that it was hiring a team of 10,000 to help develop new services that would make its platform more flexible.
The first of those, a new platform that allows users to buy and sell virtual currencies, was announced in May.
The company said the platform would allow it to offer more than $3.5 billion worth of digital currency transactions a day, as part of its $1.5 trillion global trade volume.
While the Betzone software developers trainees program is a new project for Betcard and its partners, it has already helped the company grow to become one of India’s biggest digital currency platforms.
Last month, the bank said it was investing in Betzone’s $200 million seed round.
The $100m investment by Bet365 comes as India, which has become the world leader in virtual currencies and has become one the fastest-growing countries in the global online financial system, is struggling with a range