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.

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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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