By KuCoin Labs Invests in BTC Layer 2 Dovi to Advance Bitcoin Ecosystem Development
Last updated: December 10, 2023 23:40 EST
. 1 min read
KuCoin Labs, the corporate VC arm of the KuCoin ecosystem, has announced a strategic investment to further Bitcoin ecosystem development.
The KuCoin investment platform is tapping the Bitcoin Layer 2 smart contract platform Dovi, to help it achieve its “pivotal milestones.”
“KuCoin Labs will continue to assist Dovi in achieving its pivotal milestones, including product innovation, market expansion, and enhancement of user experience,” Lou Yu, chief of KuCoin Labs, noted.
The strategic investment demonstrates KuCoin Lab’s commitment and belief in the development of the crypto industry in the long term.
KuCoin Labs has previously invested in various early-stage projects to help build sustainable growth in the crypto space. The platform has also deployed a dedicated fund to support BTC-native projects.
The company release further noted that KuCoin Labs will continue to invest in the Bitcoin ecosystem and has also invited native projects to be partner in the development.
“We welcome other BTC-native projects to fill the application form through the official website for financing or incubation purposes,” it said.
In April, the Digital Assets Regulation Institute (DARI), launched jointly by KuCoin Labs and VAIOT, announced to provide a platform for industry-led efforts to promote regulatory clarity and coherence.
DARI noted that it would provide advisory services for ventures seeking regulatory approval, with institutional partners serving as advisors.
The Seychelles-based company also launched a $100 million fund devoted to early-stage metaverse projects in 2021. KuCoin Labs portfolio comprises more than 50 projects including Ankr, MultiVAC, Arweave, CertiK, OneLedger and LUKSO.
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