Huobi, one of the leading crypto exchanges today, has announced that it has created an investment arm to handle projects in Web3 and decentralised finance. Going by the name Ivy Blocks, the new arm will target projects in seed stages to help them with financing plus other supportive services for a more inclusive and better Web3 ecosystem.
Huobi Joins Web3, Investing with Ivy Blocks
Web3 is a thriving new industry, and a lot of crypto exchanges and venture capital firms are joining the tide. Huobi, one of the leading crypto exchanges based on trade volumes, has unveiled its own investment arm, Ivy Blocks, to handle the new markets. The new arm will be used to identify the potential projects to incubate and nurture.
According to a statement released by Huobi, Ivy Blocks will be in-charge of multi-billion dollars to achieve its goal, making it strategically placed to benefit from “unique projects in the crypto markets globally.” To support the new projects, IVY Blocks will focus on three main services:
- Asset management platform for DeFi projects.
- Innovation-led incubation unit.
- Research-driven crypto platform.
The Financing Power
One of the important parts is offering support to investment projects in finance. Huobi has made this pretty simple and is seeking to provide assistance to startups that mainly fail because of finance-related issues.
“Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which presents 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 Web3 blockchain ecosystem,” explained Lily Zhang, the Huobi CFO.
Already, Ivy Blocks has one billion assets under management (AUM) from a number of companies that already incubated there. One of these is Capricorn Finance, an automated market maker running on Cube Blockchain.
Other exchanges that have also invested in Web3 projects include Binance, which launched USD500 million fund through Binance Labs early in June to support Web3 projects.
