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Huobi Enters Venture Capital With Ivy Blocks

Huobi Enters Venture Capital With Ivy Blocks

Huobi Enters Venture Capital With Ivy Blocks

The exchange's newly formed investment arm will focus on DeFi and Web 3 ventures.

The exchange's newly formed investment arm will focus on DeFi and Web 3 ventures.

The exchange's newly formed investment arm will focus on DeFi and Web 3 ventures.

By Michael Bellusci
AccessTimeIconJun 10, 2022, 8:24 PM
Updated May 11, 2023, 5:39 PM
(CoinDesk archives)
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Cryptocurrency exchange Huobi Global launched Ivy Blocks with a "multibillion-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 Chief Financial Officer Lily Zhang in a statement. The new investment arm "will no doubt contribute towards creating a better, more inclusive DeFi [decentralized finance] and Web 3 blockchain ecosystem."
  • Ivy Blocks will be providing three core services, according to the company. There will be a liquidity investment department providing an asset management platform for smart DeFi mining and income aggregation. There will also be Ivy Labs, a crypto and blockchain incubator and Ivy Research, which focuses on blockchain and cryptocurrency research.
  • Ivy Blocks has more than $1 billion in crypto assets under management. Among early projects is Capricorn Finance, an automated market maker (AMM) decentralized exchange built on the Cube blockchain.

STORY CONTINUES BELOW

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Michael Bellusci

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

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