Huobi Global has announced the creation of Ivy Blocks, a subsidiary that will invest in early-stage blockchain ventures in the DeFi and Web3 space.
Huobi said in a corporate statement that its “multi-billion dollar war chest” will allow Ivy Blocks to gain access to unique opportunities globally.
Ivy Blocks is said to be rolling out with three core services:
- Liquidity Investment Department, an asset management platform for smart DeFi mining and income aggregation;
- Ivy Labs, an innovative crypto and blockchain incubator;
- Ivy Research, which focuses on blockchain and cryptocurrency research, together these services will offer all-around support for promising projects.
Ivy Blocks has been launched hoping to take advantage of the growth opportunities in the DeFi and web 3.0 space as cryptocurrencies become one of the world’s major asset classes.
Huobi CFO Lily Zhang commented on the launch:
“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 3.0 blockchain ecosystem.”
A first project to be supported by Ivy Blocks is Capricorn Finance, an AMM-based decentralized exchange built on Cube. With more than US$1 billion worth of crypto assets under management, Ivy Blocks expects to be well-positioned to propel budding projects like Capricorn Finance.
Huobi Global is a leading cryptocurrency exchange, with tens of millions of users across five continents and 160 different countries.