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 about
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
