Internet City, Dubai, Nov. 10, 2022 — Blockchain crypto investment group LBank Labs announces the establishment of its new crypto investment fund targeted toward Web3 development in Africa. LBank Labs plans to establish a series of regional development funds in South Korea, Southeast Asia and more. This is the first of the sequence of new investment funds from LBank Labs.
Africa is one of the areas with a lot of untapped potential for blockchain expansion. With new member Czhang on LBank Labs’s team, the investment institution is looking globally. Czhang is currently visiting many countries in North Africa and will visit other regions on the continent. Throughout November, Czhang, as a representative of LBank Labs, will be talking with potential African collaborators. “I think the future is in Africa,” said Czhang, “in terms of blockchain adoption, LBank Labs hopes to provide support for local communities and give local projects the push that they need to start.”
LBank has been pushing educational efforts in the Middle East and North Africa region for some time, having community managers in Nigeria, Ghana, Tunisia and more. “Africa is a diverse place. We believe the key to blockchain development in Africa, and anywhere really, is education. Giving people the tools to understand blockchain technology will help them to see why it is such a world-changing thing. We really hope to have a strong bond with locals,” a representative said. LBank has also expanded to other areas, recruiting community managers in Cameroon, Kenya and so on.
About LBank Labs
LBank Labs is an independent blockchain investment institution under the top global crypto exchange LBank. LBank Labs currently has a total fund size of 50 million Tether (USDT). Registered in Asia’s crypto hub, Singapore, LBank Labs includes venture capital, hedge funds and also fund of funds. Since its inception, LBank Labs has invested in many quality early-stage public-chain projects, such as VEN and NEO. Starting in 2020, LBank Labs invested in nearly 100 ecological projects, such as Polkadot, nonfungible tokens and Solana.
LBank is one of the top crypto exchanges, established in 2015. It offers its users specialized financial derivatives, expert asset management services and safe crypto trading. The platform services over 7 million users from more than 210 regions worldwide. LBank is a cutting-edge, growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.
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