Cryptocurrency exchange operator Huobi has established a fund to invest in the DeFi sector. According to CoinDesk, the fund’s assets count to tens of millions of dollars.

Huobi DeFi Labs will focus on research, investment, and project development in the decentralized finance field. The department is headed by Charlene Wu, who previously served as head of blockchain investments at China Merchant Bank International.

“It is exciting to see the power of the permissionless economy unleashed at global scale,” Wu said. “However, there are still many problems to be solved at the theoretical and technical levels.”

With the development of the DeFi sector, the interest of venture capitalists has grown. At the end of July, the Polychain and Three Arrows funds poured a seven-figure sum into KeeperDAO, a liquidity guarantor for the DeFi sector.