coindesk.com
Cryptocurrency exchange Huobi Global launched Ivy Blocks with a "multi-billion dollar war chest" to invest in cryptocurrency projects globally.
"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 in a statement. "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."
Ivy Blocks will be opening up with three core services, said Huobi: 1) Liquidity Investment Department, an asset management platform for smart DeFi mining and income aggregation; 2) Ivy Labs, an innovative crypto and blockchain incubator; 3) Ivy Research, which focuses on blockchain and cryptocurrency research.
Ivy Blocks currently has more than $1 billion in crypto assets under management. Among early projects is Capricorn Finance, an automated market making (AMM) decentralized exchange built on the Cube blockchain.
Read more: Huobi Global Acquires Latin American Crypto Exchange Bitex