Huobi has partnered with Chinese investment firm New Margin Capital and the South Korean securities firm Kiwoom Securities Co., Ltd., to launch a $93 million China-South Korea blockchain investment fund. They will be investing in blockchain startups in an effort to encourage collaboration between the two countries.
This news comes only a day after Huobi’s biggest rival, Binance, announced their own plans of creating a crypto-blockchain fund to support crypto and blockchain startups.
As reported earlier, Huobi has also launched its crypto-based exchange traded fund or ETF that tracks their top 10 traded digital assets.
The exchange giant, headquartered in Singapore, boasts a subsidiary in South Korea while it also has plans of setting up shop in London, England and San Francisco, USA.