Ethereum Watch

Huobi Ventures has invested in OpenOcean.

OpenOcean Announces Huobi Ventures Backing

OpenOcean, a pioneering full aggregator that supports interoperability across multiple networks, is excited to announce a strategic investment by Huobi Ventures Blockchain Fund.

Following the investment, OpenOcean will work closely with the Huobi Global ecosystem to bring more innovative solutions connecting DeFi and CeFi. The new solutions will benefit users through higher capital efficiencies and profits from enhanced trading strategies.

The Huobi investment comes on the heels of OpenOcean surpassing 200,000 active unique addresses with over 730,000 total transactions approximating $2 billion USDT in cumulative transaction volume since its launch in Q3, 2020.

Huobi Ventures is a subsidiary of Huobi Group, the world’s leading blockchain company, that supports innovative blockchain projects through long-term strategic investments.

In March 2021, the project had raised $2 million from a group of investors led by Binance. Multicoin Capital, CMS Holdings, Kenetic, MarketAcross, LD Capital, and Altonomy participated in that round.

Commenting on the strategic investment, OpenOcean co-founder Cindy said:

“Leading exchanges that are building in both DeFi and CeFi are investing in OpenOcean because of the value we bring as the first aggregator that connects these two previously isolated worlds. We now have, what we believe is, the best possible group of investors supporting us to facilitate our innovative products and ecosystem development.”

OpenOcean has successfully aggregated major DEXs on BSC, ETH, ETH Layer2, TRON, and SOL. It is also in the process of integrating more DeFi protocols including Polygon.

Further down the road, the project will be offering derivatives, lending and insurance, combined margin products, yield products, and intelligent wealth management services.

OpenOcean is a one-stop full chain aggregation protocol that acts as a bridge between DeFi and CeFi. It eliminates the fragmentation that exists within the DeFi ecosystem by giving users access to the entire crypto market via a single, user-friendly interface. Users enjoy full access to aggregated liquidity and best pricing from a wide range of centralized and decentralized exchanges.

For more information, contact Phoebe ([email protected]).