LBank Labs Establishes Blockchain And Crypto Investment Fund To Support The Development Of Web3 In Africa
LBank has announced the establishment of its new crypto investment fund targeted towards Web3 development in Africa.
By Anna B Kiwanuka
LBank Labs, a Blockchain Crypto Investment Group, recently announced the launch of a new cryptocurrency investment fund aimed at Web3 development in Africa. This is the first new investment fund in a series from LBank Labs. The investment institution also intends to create a number of funds for regional growth, notably for Korea, South East Asia, and other regions.
According to Lbank labs, Africa is one of the areas with a lot of untapped potential for blockchain expansion. Furthermore, with new member Czhang on board LBank Labs, the investment institution is looking at expanding its work globally.
Czhang is currently visiting many countries in North Africa and followed by other regions in the continent. Additionally, the board member will be discussing with potential African collaborators about crypto and Web3 projects to be established throughout the month of November.
Czang further commented on crypto and blockchain adoption in Africa saying, “I think the future is in Africa in terms of blockchain adoption. LBank Labs hopes to support local communities and give local projects the push they need to start up.”
LBank has been pushing educational efforts in the MENA region for some time, having community managers in Nigeria, Ghana, Tunisia, and more.
Lbank also stated in its press release, “Africa is diverse. 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 the locals. ”
LBank has also expanded to other areas, recruiting community managers in Cameroon, Kenya, and so on.
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 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.