MEXC announces $20M ecosystem fund for Sei Network

• MEXC Venture’s $20M ecosystem fund is targeted to support major projects on the layer-1 blockchain Sei Network.
• Sei Network secured $5 million in August from investors including Coinbase Ventures and Multicoin Capital.
• The platform will support 20 dApps as the mainnet launch approaches.

MEXC, a leading Singapore-based cryptocurrency trading platform, has announced a $20 million fund aimed at supporting the project of the layer-1 blockchain Sei Network.

in a blog post It was published On January 4, MEXC said the fund aims to drive adoption across the Sei Network ecosystem.

Designed with the need to maximize the trading benefits of decentralized exchange (DEX) users, the platform was developed by Sei Labs. Sei Labs is a team that counts ex-Robinhood developers, Cosmos OG, ex-Goldman Sachs finance and strategy members.

Sei Network to support 20 dApps before mainnet launch

Sei Network raised $5 million in August with the backing of industry insiders including Coinbase Ventures, Multicoin Capital, Delphi Digital, Hudson River Trading and other investors. The platform plans to use new capital injections to support network development as it nears mainnet launch.

The team will also support 20 decentralized applications (dApps) already built on the network.

MEXC is launching an ecosystem fund through MEXC Ventures, a comprehensive fund aimed at enhancing innovation within the crypto space through strategic investments. The company also focuses on M&A project incubation and multi-manager investment.

MEXC Ventures currently has over $100 million in assets under management and over 300 portfolio investments.