Huobi Launches a $93 Million China-South Korea Blockchain Fund

The world’s third largest crypto exchange by trade volumes has launched a groundbreaking blockchain investment fund involving both China and South Korea.


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.


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