Cumberland Lab can be seen as an incubator for decentralized finance, that’s based on Web3. It shares its name with the trading giant of cryptocurrency, based in Chicago, Cumberland DRW LLC. It also shares their expertise, and is at present moving into the sphere of the public. This Lab incubator is based out of Singapore. There, this incubator was being built in a quiet manner, since the month of March.
The Cumberland Lab Incubator
This Lab has around twenty people working as staff. Just this week, five more people were added to the workforce. This information was provided by Naveen Aghinotri, who is the chief of Cumberland Lab.
This could be a move that times well. Take for example how the cryptocurrency winter that lasted between 2018 and 2019 led to a DeFi summer in 2020. Environments involving the crypto winter can be seen as favorable when it comes to finding new growth partners, who want to stay for the long haul. The other kind of investors that can be found are people who want to know if prices have gone up by a certain percentage within the month.
The Cumberland Lab is looking at a lot of projects involving DeFi. Essentially, the lab is focused on two initiatives. They would like to incubate the projects they are getting while also launching their own projects. Cumberland Lab was first founded by DRW partners. However, they are not a DRW or even a Cumberland entity. Instead, they are a separate company.