Huobi Enters Venture Capital With Ivy Blocks

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

By Michael Bellusci

Jun 10, 2022 at 8:24 p.m. UTC

Updated Jun 10, 2022 at 9:12 p.m. UTC

Will More Institutional Exchanges Follow on Huobi's Heels? — (CoinDesk archives)

Michael Bellusci

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

Follow @mikeybellusci on Twitter

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.

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.