Huobi, the third largest cryptocurrency exchange in terms of 24h trading volume, last week announced a new initiative to deepen the integration of blockchain and other industries.

The company said that it has commenced the process to establish "Huobi Blockchain Plus Industry Alliance," which plans to “promote Blockchain Plus in various industries around the world by bringing together experts in the theory and practice of global Blockchain Plus.”

The alliance will set up a preparatory committee, responsible for setting up rules and arranging the overall operation. The members of the first term of the Preparatory Committee include, Xiaolei Liu, the dean of Guanghua Department of Finance, Peking University; Yan Meng, chairman,and CEO of PDJ Education, as well as the VP of CSDN; Jianing Yu, the director of Industrial Economics Research Institute, Information Center, Ministry of Industry and Information Technology of China; and Dao Yuan, the chairman of Zhongguancun Blockchain Industry Alliance, among others.

As part of this initiative, Huobi said that it will share its ecological resources and work towards jointly building blockchain labs with partners free of charge, providing full-process incubation services for partners, and facilitating setting up of Blockchain Plus new zones to support digital assets trading.

In addition, the company announced a $100 million Global Blockchain Industry Guidance Fund to support “the development of vertical industry blockchain + industry”.

In a separate announcement, Huobi last week announced the official launch of “Huobi Cloud” – its cloud business arm which will enable its partners to build secure and stable digital asset exchanges quickly.

Earlier in May, Huobi Labs had announced plans to set up a $1 billion global blockchain industry fund.