Crypto exchange Huobi has announced the launch of the Huobi-Filecoin Incubation Center with a $10 million fund dedicated to supporting the Filecoin ecosystem.
According to a press release, the center will focus on incubation, investment, and community development. Huobi will support Filecoin developers and promote Filecoin-related academic research.
Sharlyn Wu, Huobi's CIO, believes that decentralized storage is a "great experiment that combines cloud storage with the decentralized mechanism of blockchain."
"We believe that Filecoin would be the infrastructure for the next generation of internet. In this new age of information, we need to develop new ways to protect, store, and exchange our data, which could be crucial for how society and the world could be defined and developed," Wu added.
Previously in November, the Winklevoss-founded cryptocurrency exchange Gemini announced it is developing its own version of a Wrapped Filecoin (wFIL) service so that Filecoin (FIL) can be used on the Ethereum network.
The new service will allow users to exchange FIL in their Gemini account 1:1 into wFIL (and vice versa) and withdraw it to any Ethereum address.
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