One of the leading crypto exchanges in the world, Huobi Group, said in an announcement Monday it has launched a new business unit called Huobi DeFi Labs to manage the new fund. The DeFi Labs, which initially comprises of four staff, will focus on research, investment, and incubation of DeFi-related projects. The global crypto exchange Huobi recently hired former banker Sharlyn Wu as its chief investment officer to lead the initiative.
Sharlyn Wu spent three years leading the blockchain investment arm at CMBI.
Earlier, Sharlyn Wu spent three years leading the blockchain investment arm at China Merchant Bank International (CMBI), the overseas branch of one of the biggest banks in China. During his term, the CMBI invested in several crypto and blockchain firms, including wallet startup Bitpie and public blockchain project Nervos. Wu said that it is exciting to see the power of the permissionless economy unleashed globally. “However, there are still many problems to be solved at the thoretical and technical levels,” Wu added.
Huobi launched a crypto asset custody platform.
The world’s second-largest cryptocurrency exchange Huobi has announced that it is getting into the digital asset custody business. The crypto exchange launched its digital asset custody platform. The Singapore-based crypto exchange is initially targeting accredited investors and institutions and will let investors subscribe to various token offerings from its listed partners, with an investment ceiling of 10 BTC depending on the user’s risk profile. Ciara Sun, the head of global markets at Huobi Group, said in an interview with crypto news outlet CoinTelegraph, that this year would be an especially exciting year for the institutional market as compliance and regulation matures.