OKX Ventures, the venture capital arm of cryptocurrency exchange OKX, and the Aptos Foundation have jointly established a $10 million fund to foster the growth of the Aptos ecosystem and promote broader adoption of Web3 technologies. The fund, named Ankaa, aims to support projects built on the Aptos blockchain, according to an announcement.
Ankaa will be managed by Aptos, OKX Ventures, and Alcove, the accelerator launched by Aptos last November. The fund will primarily focus on projects in decentralized finance (DeFi), real-world assets (RWA), gaming, social media, and artificial intelligence (AI).
Aptos is a layer-1 blockchain that utilizes Facebook’s (META) Move programming language, designed for efficient and reliable on-chain transaction execution. The platform aims to bridge the gap between decentralized finance and traditional financial institutions, offering a streamlined entry point for businesses and financial entities into the DeFi space.
In April, Aptos developers announced collaborations with Microsoft, investment firm Brevan Howard, and South Korean telecommunications giant SK Telecom, highlighting the blockchain’s growing appeal to institutional players looking to explore the DeFi sector.
The establishment of the Ankaa fund marks a significant step in bolstering the Aptos ecosystem, providing resources and support to innovative projects that leverage the blockchain’s unique capabilities.
