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The Defiant 2025-05-01 11:37:25

MEXC Launches $300M Ecosystem Fund to Accelerate Web3 Innovation

MEXC Launches $300M Ecosystem Fund to Accelerate Web3 Innovation

Cryptocurrency exchange MEXC, which manages approximately $2.6 billion in total assets, announced on Thursday, May 1, the launch of a $300 million Ecosystem Development Fund aimed at driving innovation across the web3 space over the next five years. Unveiled during Token2049 in Dubai, the initiative reflects a strategic pivot for the company from being primarily a trading venue to a web3 ecosystem builder. The fund will back early-stage blockchain startups and expand decentralized infrastructure, including public chains, stablecoins, wallets, and media platforms. According to a press release viewed by The Defiant, the Ecosystem Development Fund will provide both capital and increased visibility to help projects grow within the web3 ecosystem. The move aligns with strong growth expectations for the U.S. web3 market, which was valued at $780 million in 2024 and is projected to reach $24.8 billion by 2034, growing at a compound annual rate of 41.33%, according to Precedence Research . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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