Key takeaways:
- Huobi Global has launched Ivy Blocks, an investment unit with more than $1 billion in assets under management
- Ivy Blocks will pursue investments in promising DeFi and Web3 projects
- With Ivy Blocks, Huobi is entering the space dominated by Binance Labs, Coinbase Ventures, and FTX Ventures
Huobi Global to pursue crypto-related investments despite poor market conditions
The Huobi Global cryptocurrency exchange has launched Ivy Blocks, an ecosystem investment arm focused on DeFi and Web3 projects. According to the press release, Ivy Blocks will invest in “promising blockchain projects” with the intent of identifying growth opportunities. The unit has launched with more than $1 billion in crypto assets under management (AUM).
The Ivy Blocks investment arm consists of three core services, including Liquidity Investment Department, Ivy Labs, and Ivy Research. Ivy Blocks’ three branches will be tasked with incubating startup projects, managing mining and income aggregation, and educational initiatives. Huobi will reportedly back promising projects with marketing, technical, and token listing assistance.
Huobi CFO Lily Zhang commented on the launch of Ivy Blocks in a statement:
“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.”
Among the first batch of projects to receive backing via Ivy Blocks will be Capricorn Finance, a popular decentralized exchange built on Cube.
The launch of Ivy Blocks pits Huobi Global against investment arms of other major centralized exchanges, including Binance Labs, Coinbase Ventures, and FTX Ventures.
