KuCoin Labs, the company VC arm of the KuCoin ecosystem, has announced a strategic investment to additional Bitcoin ecosystem improvement.
The KuCoin funding platform is tapping the Bitcoin Layer 2 good contract platform Dovi, to assist it obtain its “pivotal milestones.”
“KuCoin Labs will proceed to help Dovi in attaining its pivotal milestones, together with product innovation, market growth, and enhancement of person expertise,” Lou Yu, chief of KuCoin Labs, famous.
The strategic funding demonstrates KuCoin Lab’s dedication and perception within the improvement of the crypto {industry} in the long run.
KuCoin Labs has beforehand invested in varied early-stage initiatives to assist construct sustainable development within the crypto house. The platform has additionally deployed a devoted fund to help BTC-native initiatives.
The corporate launch additional famous that KuCoin Labs will proceed to spend money on the Bitcoin ecosystem and has additionally invited native initiatives to be accomplice within the improvement.
“We welcome different BTC-native initiatives to fill the applying type by the official web site for financing or incubation functions,” it stated.
In April, the Digital Belongings Regulation Institute (DARI), launched collectively by KuCoin Labs and VAIOT, introduced to supply a platform for industry-led efforts to advertise regulatory readability and coherence.
DARI famous that it might present advisory companies for ventures searching for regulatory approval, with institutional companions serving as advisors.
The Seychelles-based firm additionally launched a $100 million fund dedicated to early-stage metaverse initiatives in 2021. KuCoin Labs portfolio contains greater than 50 initiatives together with Ankr, MultiVAC, Arweave, CertiK, OneLedger and LUKSO.