Huobi Group has announced the establishment of a new decentralized finance (DeFi) ecosystem called Huobi DeFi Labs.
According to an official announcement, the new arm will focus on research, investment, and incubation of the DeFi market. Huobi's Chief Investment Officer Sharlyn Wu says there is also a lot of investor education to do in order to bring crypto and DeFi to mainstream users.
"As DeFi is still in its infancy, it needs collective efforts from the global community to build and grow the space together," Wu added.
Huobi will also allocate "tens of millions of dollars" to an initial investment fund, which will be regulated by Huobi DeFi Labs.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.
The DeFi Labs will be focused on the following three areas:
- Research of underlying financial theories and technology
- Investment and incubation of DeFi projects
- Work with the best DeFi projects to service the entire ecosystem
iHodl earlier reported that Huobi launched bitcoin (EXANTE: Bitcoin) options trading. Each contract is equivalent to 0.001 BTC. The platform also charges trading and delivery fees.
In April, the Financial Services Agency of Japan (FSA) approved Huobi Token (HT), Huobi's native token, as a compliant crypto asset.
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