Cryptocurrency exchange Huobi Global launched an investment arm, Ivy Blocks, to develop blockchain projects, DeFi and Web3.
“Most promising projects tend to face liquidity constraints and lack of go-to-market support, which creates serious barriers to growth. Our focus on providing such projects with liquidity investment and incubation services will certainly help create an improved and more inclusive blockchain ecosystem, DeFi and Web3,” said Huobi CFO Lily Zhang.
Huobi said the new investment arm holds more than $1 billion in cryptocurrency assets under management.
One of the first projects supported by Ivy Blocks was Capricorn Finance, a decentralized exchange developed at Cube.