Dovi is a Bitcoin Layer 2 solution that has attracted significant funding from KuCoin Labs.
The investment and incubator part of the KuCoin ecosystem, KuCoin Labs, has taken a step that shows it is thinking forward in the Bitcoin ecosystem. To be more specific, KuCoin has come clean about its substantial investment in Bitcoin Layer 2 solution Dovi.
The KuCoin team just informed Coin Edition of this change in a statement. This investment further demonstrates KuCoin Labs’ dedication to blockchain technology and its understanding of the dynamic nature of the cryptocurrency business, as stated in the announcement.
The KuCoin team went on to say that KuCoin Labs‘ investment is a significant move in the Bitcoin ecosystem and a stamp of approval for Dovi’s core capabilities.
KuCoin Labs will keep helping Dovi reach its important goals, such as improving the user experience, expanding into new markets, and developing innovative products.
Notably, Dovi is mainly concerned with improving the BTC ecosystem’s user experience and transaction efficiency with innovative solutions for Bitcoin Layer 2. As KuCoin Labs pointed out, the company has been following the Bitcoin ecosystem closely since its inception, when it saw its meteoric rise to prominence and the rise of many native protocols.
Which is why KuCoin Labs has set aside funding specifically for BTC-native initiatives. Investor KuCoin Labs has shown its faith in the continued expansion of the cryptocurrency industry with its latest investment in Dovi, according to the KuCoin team.
In terms of the future, KuCoin Labs has confirmed that it will continue to prioritize incubation, investing in the Bitcoin ecosystem to bring about new and valuable applications. This led KuCoin to open its website to applications from other Bitcoin-native startups looking for funding or incubation.
Also Read: Crypto Experiences Massive Liquidation Worth More Than $400 Million As Bitcoin (BTC) Reaches $40,000
Wallets