Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

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Sep 21, 2023, 10:34 ET

SINGAPORE, Sept. 21, 2023 /PRNewswire/ -- Deepcoin Labs, a leading venture capital firm specializing in blockchain, digital assets, and cryptocurrencies, is proud to announce that it has been granted the "Proprietary Trading in Crypto-commodities" registration by the Dubai Multi Commodities Center (DMCC) and the launch of a $10 million fund dedicated to fueling early-stage Web3 innovation projects. This initiative underscores Deepcoin Labs' commitment to nurturing high-quality, forward-thinking projects within the Web3 ecosystem, fostering industry growth, and contributing to the broader community while operating within the regulatory framework established by DMCC.

Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

The "Proprietary Trading in Crypto-commodities" registration is effective from September 6, 2023, until September 10, 2024, and grants Deepcoin Labs the ability to engage in trading activities within the crypto-commodities sector while adhering to DMCC's regulatory framework.

Fostering Long-Term, Sustainable Growth & Innovation

Deepcoin Labs is dedicated to propelling innovation, nurturing growth, and facilitating collaboration within the Web3 industry by using this newly acquired registration. The establishment of their $10 million dollar fund is also expected to serve as a catalyst for industry innovation, providing essential resources to promising projects. Deepcoin Labs is now actively seeking innovative and quality-driven Web3 projects on a global scale, reaffirming our commitment to shaping the future of the Web3 landscape worldwide. Funding allocations will be determined based on the quality and impact of each project, with direct contributions made to eligible project teams.Their mission is to empower Web3 startups by bridging the gap between mentorship and funding through the incubation programs and leveraging the technical expertise within the Deepcoin Labs ecosystem. This also supports web3 startup projects in growing both in Asian and overseas markets. By working closely with the management teams of portfolio companies, Deepcoin Labs aims to build exceptional value within the blockchain and cryptocurrency space, fostering long-term sustainable growth. Projects interested should contact Deepcoin Labs via email for inquiries.

Ego Huang, Founder & CEO of Deepcoin, expressed enthusiasm regarding this milestone, stating, "We are thrilled to have received this registration from DMCC for Deepcoin Labs, which underscores our commitment to responsible and regulated operations in the crypto-commodities sector. This recognition is a testament to our dedication to promoting education, research, and responsible investment in blockchain and digital assets. The launch of Deepcoin Lab's $10 million fund also signifies our dedication to catalyzing Web3 innovation on a global scale, bringing renewed energy and opportunities to the industry's development."

About DMCC

The Dubai Multi Commodities Center (DMCC) is the world's fastest-growing and largest Free-Zone, with over 12,000 registered companies. Established in 2002, DMCC plays a crucial role in enhancing commodity trade flows through Dubai, serving as a hub for various commodities, including precious metals, diamonds, pearls, gold, and tea. DMCC is committed to regulating, promoting, and facilitating trade while offering top-tier commodities and financial services.

About Deepcoin Labs

Deepcoin Labs, a branch of Deepcoin, is a venture capital firm specializing in blockchain, digital assets, and cryptocurrencies. The company is dedicated to fostering long-term sustainable growth within the industry by providing resources, trust, and support to startup projects in both Asian and overseas markets.

About Deepcoin

Deepcoin is a leading derivatives exchange committed to providing users with a secure, efficient, and innovative trading experience while known for its relentless innovation and long-term value proposition. Founded in 2018 by industry veterans and former executives of renowned companies, Deepcoin has amassed over 3 million registered users across 30 countries, facilitating a cumulative trading volume exceeding US $1 trillion. Deepcoin enables direct purchases of major cryptocurrencies and offers a range of trading options for over 100 cryptocurrencies. Its user-friendly platform includes spot trading, perpetual contracts and inverse perpetual contracts, backed by 24/7 multilingual customer support, empowering individuals and institutions to navigate the digital asset market with confidence and ease. Deepcoin continues to redefine the crypto trading landscape, delivering unparalleled innovation and exceptional user experiences.

Website: Deepcoin.com

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SOURCE Deepcoin