Zerodha, a stockbroking platform, has announced the establishment of a $1 million annual fund specifically intended to help Free/Libre and Open Source Software (FOSS/FLOSS) organisations across the globe financially.
Chief technology officer of Zerodha, Kailash Nadh, stated in a blog post on Wednesday that the company has been employing a FOSS stack for a long time to develop financial technology products and services, and that this has contributed significantly to the company’s growth. This covers everything from operating systems and programming languages to databases, web servers, front-end frameworks, code editors, and productivity tools.
“We are excited to announce the launch of a dedicated fund aimed at providing financial assistance to Free/Libre and Open Source Software (FOSS/FLOSS) projects globally, with an annual commitment of $1 million,” he wrote.
Zerodha intends to allocate a maximum of $1 million annually, or between $10,000 and $100,000, to various projects. After the business has a greater understanding of the fund’s operations, this sum might be raised.
About Zerodha
Zerodha is an Indian financial services provider that offers retail and institutional broking, brokerage-free equities investments, and is a member of the NSE, BSE, and MCX.
