The large crypto exchange wants to take a stab at DeFi and Web 3 development through the new investment arm.
Huobi, the near-decade-old cryptocurrency veteran, has established a new investment arm, called Ivy Blocks, that will focus on supporting the growing ecosystems of decentralized finance and Web 3-based blockchain protocols.
- The official press release reads that the new feature will “focus on identifying and investing in promising blockchain projects to help unlock their growth potential, serving to boost innovation and development in the DeFi and Web 3 world.”
- The company said Ivy Blocks will have more than $1 billion worth of cryptocurrencies under management. It asserted that this substantial amount will allow the investment arm to be “well-placed to take advantage of unique opportunities” in the markets.
- Ivy Blocks will evaluate projects by their ideas, and provide them with the necessary tools to succeed, said the PR.
- To do so, it will launch three core services called Liquidity Investment Department, Ivy Labs, and Ivy Research. The first will be an asset management platform for smart DeFi mining and income aggregation, the second – a crypto and blockchain incubator, and the last – a research arm focusing on blockchain and crypto.
- Ivy Blocks will rely on all of those to “encompass liquidity investments, project acceleration support, technical guidance, professional mentorship,” etc.
“Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth. Our focus on providing such projects with liquidity investments and incubation services will no doubt contribute towards creating a better, more inclusive DeFi and Web 3 blockchain ecosystem.” – commented Huobi CFO Lily Zhang.
Source: CryptoPotato
