LBank’s Crypto Fund Will Support African Web3 Development
A crypto investment company, LBank Labs, has stated that it set up a new crypto investment for Africa’s web3 development. The firm says it is planning a series of investment funds for regional development. This will include places like Southeast Asia, Korea, and so on.
Expanding Blockchain Education
The recent Africa-focused fund is the first in the series of new LBank Labs investments. Africa has been identified as one of the places with huge unused potential for expanding blockchain. LBank Lab’s investment arm has begun to have a global perspective since Czhang came on as a member.
Czhang is said to currently be on a tour of North Africa. He is scheduled to visit other parts of Africa right after that. Czhang’s mission as a representative of LBank Labs includes meeting and discussing with potential partners in Africa. He said the future of blockchain adoption is in Africa.
Thus, LBank Labs is working to give all necessary support to Africa-based blockchain and web3 projects. Local communities will have access to the funds they need to start their businesses. LBank has aided educational plans in the Middle East and North Africa for a while.
It has community managers overseeing projects in Ghana, Nigeria, Tunisia, and other places. Czhang said Africa is a widely diverse place. And like everywhere else, the way to blockchain adoption and development is through education.
He said further that helping people with tools to make them understand blockchain will make them see its importance.
Building on Experience
Blockchain technology is such a life-change phenomenon. LBank hopes it will have a strong connection with people on the continent. The company has equally spread to other places as it recruited community managers in Kenya, Cameroun, etc.
LBank Labs is a blockchain investment firm and a subsidiary of the large crypto exchange LBank. As of now, the firm has a fund size to the tune of 50 million USDT.
LBank Labs is registered in Singapore, Asia’s crypto center. It has arms that include Hedge Funds, Venture Capital, and Funds of Funds.
LBank Labs has invested in a lot of early-stage projects since it was established. Some of those beneficiaries include NEO and VEN. LBank has also invested in close to 100 ecological works including NFT, Solana, and Polkadot.
LBank, on the other hand, is the mother company and one of the leading crypto exchanges in the world. Founded in 2015, it offers asset management, and financial derivative services, among others.
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