Leading Blockchain Company in Asia and the world, Huobi Group has set up Huobi DeFi Labs, a platform that will focus on research, innovation, project incubation, and development in the decentralized finance sector of the crypto market.
Huobi Group said that it will allocate an initial investment fund of “tens of millions of dollars” to Huobi DeFi labs, to build a futuristic decentralized financial ecosystem in partnership with the global DeFi and crypto community.
Huobi DeFi Labs initiative will initially consist of four research and investment professionals, led by Huobi’s Chief Investment Officer, Sharlyn Wu. Wu is also an Economic Advisor at Algorand, Former Managing Director of fintech and blockchain investment initiatives at China Merchant Bank, and ex UBS banker.
Founder and CEO of Huobi Group Leon Li said that their mission is to provide the best CeFi and DeFi crypto financial products and services in Asia and globally.
“We are excited to join as a part of the global DeFi ecosystem and will be very honored to work with the global community to provide the best support possible.”
Investing in and Building the Rapidly Growing DeFi Sector
According to Sharlyn Wu, the DeFi space has grown exponentially in the last two years, with impressive innovations, the likes of which haven’t been seen before in human history.
“It is exciting to see the power of a permissionless economy unleashed at a global scale. However there are still many problems to be solved at theoretical and technical level.”
Through the Huobi DeFi Labs, Huobi will be able to contribute to global DeFi through different initiatives including the investor education for potential DeFi adopters.
“There is also a lot of investor education to do in order to bring crypto and DeFi to mainstream users. As DeFi is still in its infancy, it needs collective efforts from the global community to build and grow the space together.”
In line with Huobi’s mission, Huobi DeFi Labs will focus on five key initiatives that will promote the integration of both CeFi and DeFi to transform the traditional financial landscape. These include transparency and composability, trust safety and certainty, global economic inclusion, and financial services affordability.
The news will likely have a positive effect on Huobi’s native token’s HT price, which has greatly expanded its use cases in 2020, including listing in Japan as a compliant crypto asset, and as a payment option on leading crypto-friendly hotel booking platform Travala.