- KuCoin Labs has announced a new investment.
- The investment aims to foster BTC ecosystem development.
- Early-stage BTC-native projects have been urged to apply for a similar program.
In a strategic move aimed at advancing the development of the Bitcoin ecosystem, KuCoin Labs has invested in BTC Layer 2 and EVM-compatible smart contract platform Dovi.
Launched in 2018, KuCoin Labs is the investment and incubation arm of the KuCoin ecosystem. The program has invested in various early-stage projects to help builders attain sustainable growth and success in the nascent decentralized world.
KuCoin Labs Invests in Dovi
According to a press release dated December 11, KuCoin Labs has invested strategically in Dovi to help the company achieve āits pivotal milestones, including product innovation, market expansion, and enhancement of user experience.ā
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As a community-driven Layer 2 solution, Doviās design aims to enhance scalability, reduce transaction costs, and foster a more secure and decentralized financial ecosystem. Global crypto exchange OKX and crypto data platform CoinMarketCap back the project.
Per the statement, besides demonstrating its acknowledgment of Doviās strength, the investment marks KuCoin Labsā āsignificant maneuverā in the BTC ecosystem.
āKuCoin Labs has been paying attention to the development of the BTC ecosystem from early stages and has deployed a dedicated fund to support BTC-native projects. The investment in Dovi demonstrates KuCoin Labs' firm belief in the long-term development of the crypto industry,ā the statement read.
Noting that it will continue to focus on incubation and investing in the BTC ecosystem, KuCoin Labs urged other Bitcoin-native projects to apply for funding through its official website.
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Read why the UK is tracking KuCoin alongside HTX:
UK Tracking HTX and KuCoin as Warning List Expands
Stay updated on how KuCoin withstood a $116 million crypto outflow:
KuCoinās Resilience Tested With $116 Million Crypto Outflow
