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Huobi Group launches new venture arm for blockchain and DeFi investments

Huobi Group launches new venture arm for blockchain and DeFi investments

Bitcoin exchange platform huobi mobile phone client interface.

Costfoto/Barcroft Media via Getty Images
On Thursday, Huobi Group, the parent company of its namesake Chinese cryptocurrency exchange, one of the largest crypto exchanges in Asia, launched a venture investment arm for blockchain projects and decentralized finance (DeFi) investments.

Huobi Ventures says it will invest $100 million into blockchain and DeFi projects over the next three years, expand Huobi's product offerings, and dedicate $10 million in building a non-fungible token (NFT) fund, according to a press release.

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