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MEXC Global $150M Fund for Fetch.ai, Backed by Huobi and ByBit

Blockchain News
  • MEXC Global announced $150 million to support the ecosystem growth of Fetch.ai.
  • Fetch.ai is an AI and machine learning based blockchain platform.
  • MEXC Global partners with Huobi Global and Bybit.

Leading trading platform MEXC Global officially announces an ecosystem fund of $150 million. This fund will be used to support the ecosystem growth of Fetch.ai, a Cambridge-based artificial intelligence lab building an open-access decentralized machine learning network for smart infrastructure. Huobi Global and Bybit will support and play a big role in the growth of the project.

Humayun Sheikh, CEO and Founder of Fetch.ai explained,

We are excited to partner with pioneers like MEXC, Huobi, and ByBit on this expansive developer ecosystem initiative from Fetch.ai. As a project, we are now ready for Fetch.ai’s technology to be available for developers to deploy on any chain out there and provide cross chain interaction and tools to build much more sophisticated logic using Fetch.ai’s technology. The timing is perfect for fetch.ai to scale and to enable other projects to deploy new and interesting business models for the decentralized economy.

Fetch.ai is an AI and machine learning based blockchain platform designed to be a competitive public chain for professional developers. Its blockchain is an interchain protocol based on the Cosmos-SDK. In addition, it uses a high performance WASM-based smart contract language (Cosmwasm). This will allow advanced cryptography and machine learning logic to be implemented on chain and off chain.

In terms of technology, Fetch.ai is a layer-1 chain that can act as a layer-2 network for legacy blockchain networks and as an interchain bridge to the outside world. Hence, developers within the cosmos ecosystem or on Ethereum can use the tool kits provided by Fetch.ai and scale easily.

Furthermore, the Fetch.ai’s Digital Twins (formerly known as Autonomous Economic Agents) work as a network and interact with each other directly via the Digital Twin Communication Network. This will allow the network to be a strong engine to drive applications in DeFi, mobility, supply chain, and manufacturing to name a few.

Katherine Deng, VP of MEXC Global and the founder of MEXC Pioneer, commented,

Fetch.ai is a technique-focused team that has a deep background in AI and machine learning, and I was always impressed by their level of expertise. Now the team welcomes more developers to build the ecosystem, and provides developers with state-of-the-art on-chain tools and services to make growth happen. We are happy to work closely with these great talents, and be a major contributor to the quickly growing ecosystem.

On the other hand, Fetch.ai continues to invite talented crypto and blockchain developers from the Cosmos and Ethereum ecosystem to build on the Fetch.ai chain. As the first movers focusing on cutting-edge blockchain and cryptocurrency projects, MEXC Global partners with Huobi and Bybit to launch the ecosystem fund, and encourage developers to contribute ideas and projects to the Fetch.ai ecosystem.

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