Huobi Group has set up a new multi-billion dollar cryptocurrency management fund, called Ivy Blocks. This will help develop various Web3 and decentralised finance (DeFi) projects
Huobi Global introduces its Ivy Blocks fund
Huobi Group unveils Ivy Blocks Investment Fund, its new investment arm in the blockchain ecosystem:
Welcome @IvyBlocks, an independent crypto asset management ecosystem established by Huobi!
Ivy Blocks manages multi-billion dollar crypto assets and provides liquidity for communities. We strive to work towards an open and efficient network. pic.twitter.com/raHEi20JwO
– Huobi (@HuobiGlobal) June 10, 2022
Ivy Blocks is actually a multi-billion dollar cryptocurrency management fund, although Huobi has not given the precise amount in its current communication. Like the investment divisions of other competing exchanges, Ivy Blocks will be involved in decentralised finance (DeFi) and various Web3 initiatives:
“Ivy Blocks will focus on identifying and investing in promising blockchain projects to help unlock their growth potential, serving to drive innovation and development in the DeFi and Web 3.0 world. “
A split into three distinct activities
Ivy Blocks has three main missions. The first is an investment department aimed at generating returns in the DeFi ecosystem. This involves seeking out opportunities through different types of liquidity provision on protocols.
In 2021, the Huobi Group was able to generate an average annualised return of 20% through such transactions.
Next is Ivy Lab, which consists of support for independent projects, bringing real added value to the ecosystem. Huobi describes a system that works on a ‘self-incubation and self-operation’ model, but does not really specify all the ins and outs.
The third and final segment is Ivy Research. As the name suggests, this branch focuses on research into blockchain and cryptocurrencies. As such, the department plans to provide detailed investigative reports, on different parts of our ecosystem, for investors.
While some crypto companies seem to be struggling financially, Huobi is showing great ambitions for the future. At the end of May this year, the company had already attracted attention by acquiring Bitex, a Latin American exchange.
