Huobi Exchange, one of the largest trading platforms in the world has launched its investment arm, dubbed Ivy Blocks as it seeks to deepen its foothold in the growing Web3.0 ecosystem.
Ivy Blocks is launched with the primary goal of “identifying and investing in promising blockchain projects to help unlock their growth potential, serving to boost innovation and development in the DeFi and web 3.0 world.”
The investment arm made its debut with three distinct arms including Liquidity Investment Department, its asset management offshoot, Ivy Labs, the outfit’s blockchain incubator, and Ivy Research which focuses on extensive blockchain and cryptocurrency research. Ivy Blocks is currently bootstrapped with $1 billion in Assets Under Management, and with this deep pocket, all three departments can operate in a coherent way to support innovative projects it identifies.
“Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth,” said Huobi CFO Lily Zhang. “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 3.0 blockchain ecosystem.”
As announced by Huobi, Ivy Blocks has named Capricorn Finance, an AMM-based decentralized exchange as the very first project it will be backing. Capricorn Finance is built on Cube, a high-performance, scalable layer 1 public chain with a modular architecture, which supports both multi-chain and cross-chain.
The design structure of the investment arm will help Capricorn Finance as well as other projects to attain their biggest growth potential in the web3.0 space.
Huobi Exchange’s Ivy Blocks may be coming a bit late to the party, seeing that other exchanges particularly Binance have launched a series of their own ecosystem funds months before. However, the massive liquidity at its disposal is a notable game-changer, one that can not only let it back projects in their infancy but also outfits that are looking to scale up on their growth.
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