Huobi Launches Blockchain and Web3 Investment Arm Ivy Blocks – Web3 has grown into a vibrant emerging business, with a slew of crypto exchanges and venture capital firms getting on board. Huobi, one of the top 10 cryptocurrency exchanges in terms of volume traded, has announced the launch of its own investing arm to take on these new markets. Ivy Blocks, as the exchange has called it, will be in charge of identifying and nurturing potentially successful Web3 and decentralized finance projects.
According to a press release from the firm, Ivy Blocks will have a multibillion-dollar war chest to achieve its aim, making it “well-positioned to take advantage of unique opportunities in cryptocurrency markets around the world.” Ivy Blocks will introduce three core services to help these initiatives, ideally when they are in the seed or growth stages.
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These services include a decentralized finance (defi) asset management platform, an innovation-driven incubation division, as well as a more research-driven crypto platform. All of these services will indeed be available to Ivy Blocks-affiliated companies.
Financing is a vital part of the help that an investment firm provides to its portfolio companies. Ivy Blocks’ operation is simple, and it aims to provide economic help to enterprises that are commonly lost due to financial difficulties.
Huobi CFO Lily Zhang commented on the new company’s relationship with its portfolio projects:
“Liquidity constraints and a lack of go-to-market support pestilence many potential projects, posing significant growth impediments. Our focus on offering liquidity investments and incubation services to such businesses will undoubtedly assist to the development of a better, more inclusive defi as well as Web3 blockchain ecosystem.”
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Ivy Blocks has over a billion dollars in assets under management (AUM) from a number of companies it has already incubated. Capricorn Finance, an automated market maker (AMM) developed on the Cube blockchain, is one of them. Other exchanges have recently made investments in Web3 projects as well. On June 3, Binance Labs, the exchange’s investment arm, announced the opening of a $500 million fund for Web3 projects.
