According to Bitcoin, a media specializing in virtual assets, LBank Labs, a blockchain cryptocurrency investment company, has opened a new cryptocurrency investment fund to focus on developing Africa’s Web3. The fund is the first of Elbank’s new development fund series.

Africa is one of the regions with great potential for blockchain expansion. Elbank Labs wants to expand its investment area around the world with the joining of Czhang’s board of directors, which is scheduled to negotiate with the North African delegation for investment funds. Czhang is currently visiting various parts of North Africa, and will also visit other continents for blockchain investment funds.

Czhang said, “I believe that the future of blockchain application lies in Africa. “Elbank Labs wants to support the development of local communities and add the necessary power to the growth of local projects,” he said.

Elbank Labs dispatched community managers to countries such as Nigeria, Ghana, and Tunisia, while continuing to support education in the Middle East and North Africa. An official from Elbank Labs said, “Africa is a place where diversity exists. Education is the most important for blockchain to grow in Africa. By providing citizens with tools to understand blockchain technology, they will be able to confirm with their eyes that blockchain is a technology that can innovate the world. “We want to build strong ties with the community,” Elbank Labs said.

Currently, Elbank is expanding its investment area by recruiting community managers in countries such as Cameroon and Kenya.

Meanwhile, Elbank Labs intends to sequentially open regional development funds for blockchain investment in Korea and East Asia, following this African fund.