KuCoin Labs, the corporate venture capital (VC) arm of the KuCoin ecosystem, has revealed a strategic investment to advance the development of the Bitcoin ecosystem.
The KuCoin investment platform is partnering with Dovi, a Bitcoin Layer 2 smart contract platform, to support the achievement of its “pivotal milestones.”
Lou Yu, Chief of KuCoin Labs, stated, “KuCoin Labs will continue to assist Dovi in achieving its pivotal milestones, including product innovation, market expansion, and enhancement of user experience.”
This strategic investment underscores KuCoin Lab’s dedication and confidence in the long-term development of the cryptocurrency industry.
KuCoin Labs has a track record of investing in various early-stage projects to contribute to sustainable growth in the cryptocurrency space. The platform has even established a dedicated fund to support projects native to Bitcoin (BTC).
The company’s release emphasized that KuCoin Labs remains committed to ongoing investment in the Bitcoin ecosystem. Additionally, it extended an invitation to other BTC-native projects, encouraging them to submit applications through the official website for financing or incubation purposes.
This move signals KuCoin Labs’ proactive engagement in fostering the development of innovative projects within the Bitcoin space.
In April, the Digital Assets Regulation Institute (DARI), a collaborative initiative between KuCoin Labs and VAIOT, was launched. DARI aimed to establish a platform for industry-led initiatives dedicated to promoting regulatory clarity and coherence in the digital assets space.
DARI stated that it would offer advisory services for ventures seeking regulatory approval, with institutional partners serving as advisors.
Additionally, the Seychelles-based company launched a $100 million fund specifically for early-stage metaverse projects in 2021. KuCoin Labs’ portfolio includes over 50 projects, such as Ankr, MultiVAC, Arweave, CertiK, OneLedger, and LUKSO.
