Venture capital firm Deepcoin Labs launches a $10 million fund to support early-stage Web3 innovation projects

ChainCatcher news, the cryptocurrency exchange Deepcoin's branch Deepcoin Labs announced that it has obtained the "Self-Trading of Crypto Commodities" registration granted by the Dubai Multi Commodities Centre (DMCC) and launched a $10 million fund dedicated to promoting early Web3 innovation projects.

The registration license is effective from September 6, 2023, and will terminate on September 10, 2024, granting Deepcoin Labs the ability to engage in trading activities in the crypto commodities sector while needing to comply with DMCC's regulatory framework.