Crypto exchange Huobi Global today launched Ivy Blocks, a DeFi and web3 blockchain ecosystem investment arm.
Ivy Blocks will invest in promising blockchain projects to help unlock their growth potential, Huobi said in a news release.
“Many promising projects tend to encounter liquidity constraints and a lack of go-to-market support, which present significant barriers to growth,” Huobi CFO Lily Zhang said. “Our focus on providing such projects with liquidity investments and incubation services will no doubt contribute toward creating a better, more inclusive DeFi and web3 blockchain ecosystem.”
Ivy Blocks will take advantage of crypto opportunities in global markets, Huboi said, with its “multi-billion dollar warchest.” A spokesperson for Huobi confirmed the new investment arm has more than $1 billion in crypto assets under management to deploy, CoinTelegraph reported.
One of the first projects to be supported by Ivy Blocks is Capricorn Finance, an AMM-based decentralized exchange built on Cube.