Huobi announced the establishment of a research and development platform, Huobi DeFi Labs. The new subsidiary focuses on research, investment, incubation, and ecosystem building for DeFi space, according to Huobi.
The Singapore-based exchange believes this new laboratory will pave the way toward a better financial system. It focuses on partnership with all of the members in the crypto and DeFi community to build this future.
Sharyn Wu, a Wall Street veteran, will lead the DeFi initiatives in Huobi lab. He has been an exec in UBS, too and also led the blockchain investments at China Merchant Bank.
Huobi tries to offer better financial products in the crypto industry and hold its position ad one os the biggest cryptocurrency exchanges in the world.
“Huobi as the leading crypto financial services provider in Asia and worldwide, our mission is to provide the best crypto financial products and services to our users regardless it is CeFi or DeFi,” said Leon Li, founder and CEO of Huobi Group. “We are excited to join as a part of the global DeFi ecosystem and will be very honoured to work with the global community to provide the best support possible.”
Sharyn Wu is a severe supporter of DeFi industry. He believes the future financial systems have to be decentralized. If Huobi wants to maintain its position as a leading cryptocurrency platform, the investment in DeFi ecosystem building is inevitable. Sharyn Wu said about the new lab:
“Over the past two years, we have witnessed the birth and exponential growth of DeFi. The width, depth and speed of innovations are unparalleled in human history. It is exciting to see the power of permissionless economy unleashed at global scale. However, there are still many problems to be solved at theoretical and technical level. 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.”
Research and development, investment and working with Defi projects are three main goals of Huobi DeFi labs, Huobi Group will invest tens of millions of dollars as the first rounds of investment in the DeFi Lab.
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