Huobi, the near-decade-old cryptocurrency veteran, has established a brand new funding arm, referred to as Ivy Blocks, that can focus on supporting the rising ecosystems of decentralized finance and Web 3-based blockchain protocols.
The official press launch reads that the brand new function 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 firm mentioned Ivy Blocks can have greater than $1 billion price of cryptocurrencies underneath administration. It asserted that this substantial quantity will permit the funding arm to be “well-placed to take advantage of unique opportunities” within the markets.
Ivy Blocks will consider tasks by their concepts, and present them with the required instruments to succeed, mentioned the PR.
To accomplish that, it is going to launch three core providers referred to as Liquidity Investment Department, Ivy Labs, and Ivy Research. The first shall be an asset administration platform for good DeFi mining and earnings aggregation, the second – a crypto and blockchain incubator, and the final – a analysis arm focusing on blockchain and crypto.
Ivy Blocks will rely on all of these to “encompass liquidity investments, project acceleration support, technical guidance, professional mentorship,” and so on.
“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.
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