KuCoin Labs invests in Dovi to boost BTC ecosystem development

KuCoin Labs, KuCoin’s investment wing, intends to make a prudent investment in Dovi. This demonstrates its awareness of the Bitcoin ecosystem and its long-term commitment to blockchain technology.

Dovi is involved in setting up inventive services for Bitcoin Layer 2 and has plans to maximize user exposure and transaction effectiveness in the BTC ecosystem. 

The investment that KuCoin Labs intends to make can be interpreted as an endorsement of Dovi’s prowess and an important development within the Bitcoin ecosystem.

In the words of the Head of KuCoin Labs, Lou Yu, the company will support Dovi in every aspect of growth, such as product inventiveness, market increase, and working toward better user exposure. 

As the adoption of inscriptions has increased, the BTC ecosystem has witnessed the regular proliferation of numerous conventional protocols that perform admirably. While concentrating on the growth of the Bitcoin ecosystem, KuCoin Labs has set aside funds to support Bitcoin-specific conventional projects. The Dovi investment highlights KuCoin Lab’s commitment to the progressive development of the cryptocurrency industry.

Since September 2017, KuCoin has operated as a global cryptocurrency exchange. It is located in Seychelles. Currently, the organization offers over 700 digital assets and facilitates margin and spot trading, in addition to fiat trading, lending, pledging, and futures trading. It claims to have thirty million users distributed across two hundred countries. The organization ranks fifth among the leading cryptocurrency exchanges worldwide. 

KuCoin was designated by Forbes as one of the Best Crypto Exchanges in 2023 and received the Finder’s 2023 Global Cryptocurrency Trading Platform Awards as a highly regarded global exchange.

KuCoin Labs was launched in May 2018. Its incubation and investment strategy has successfully attracted a community of crypto professionals for in-depth market research, analysis, and investment in the crypto arena.

Dovi is a Bitcoin Layer 2 and EVM-adaptable smart contract platform aimed at the community. It was created to improve upgradeability, minimize transaction fees, and promote a more secure and decentralized financial ecosystem.