Huobi Global Ecosystem Fund has invested in Global Risk Exchange (GRE), a blockchain-based, decentralized and open global risk exchange market, China Money Network reports.
As stated, the investment would be used to secure the progress of the international distribution and ecological construction of GRE.
Global Risk Exchange
Global Risk Exchange operates under the motto “Risk sharing by everyone, with everyone, for everyone,” asserts it aims to help “individuals, companies, and organizations to access and trade and manage their risks.”
Its purpose is also to entirely reconstruct traditional risk management tools, including insurance and derivative contract, in a decentralized way. The people at GRE want to establish an operating system which would support insurance and derivative transactions.
In the near future, they also want to create the infrastructure and trading platform for risk management industry by establishing an underlying protocol for the creation of risk events, pricing, trading, information collection and oracles for assessing specific risks.
After introducing the revolutionary risk management contract products, including ICO (Initial Coin Offering) Fall-On-Debut Insurance and Token Price Insurance on its platform, GRE attracted hundreds of millions of orders, and tens of millions traded contracts.
It took GRE only 92 hours after being listed on LEEKICO platform (one of Australia’s largest ICO funding platforms for new and innovative projects) to achieve this ICO target. ICO Fall-On-Debut Insurance is the first risk management product made for the purposes of the virtual assets ICO market.
The Token Price Insurance allows GRE users to get real-time returns on the basis of their own judgment of cryptomarket, while simultaneously buying insurance for its cryptocurrency portfolio.
GRE was established in January 2018, and its team consists of international professionals with significant past involvement “in actuarial, risk management and technical research and development, including AXA, Allianz, Coinbase, China Life Insurance Group, and other Fortune 500 insurance-related companies.”
According to its Facebook page, the list of investors in the GRE project includes Shen Bo (founder of Fenbushi Capital), James Gong (founder or ICOAGE and Blockchain Pencil), as well as Lihua Yi (founder of LD Capital Limited).
Huobi Global Ecosystem Fund
“Huobi Global Ecosystem Fund was established in 2018 with the purpose of investing in the best companies and form close partnerships in the blockchain space. Together with our partners, we aim to work together to make the blockchain ecosystem healthier and stronger. By joining the Huobi Ecosystem, we seek to form positive synergies with other companies to form win-win partnerships,” Huobi website states.
Investments by Huobi Global Eco Fund
The fund previously invested $51 million in Mars Finance, a Chinese Blockchain news platform.
The fund is responsible for the global ecological layout business of Huobi Group. Huobi Group is today one of the leading global financial service providers in blockchain industry, offering cryptocurrency investors various crypto asset and financial services, serving millions of users in over 130 countries. It has offices in Singapore, the United States, Japan, South Korea, Hong Kong, etc.
To date, Huobi exchange has attracted investments from individuals and organizations including Dai Zhikang, Sequoia Capital, and Zhen Fund, which surpassed $850,000 million in total transaction volume in December 2017.BTCManager reported earlier this month that Huobi, the world’s third-largest crypto exchange, plans to create a $93 million China-South Korea fund to invest in blockchain businesses in both countries.