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Animoca Brands has partnered with Singapore's Tokenize Xchange, making a strategic investment in its blockchain, Titan Chain.
This partnership will see Animoca offer support to Tokenize's ecosystem by providing market-making services, serving as Tokenize's biggest node validator, and listing its native token, TKX. Tokenize will also have the opportunity to work with other projects in Animoca's Web3 portfolio, according to an announcement on Monday.
Animoca is investing in an undisclosed amount of TKX and will help to enhance Tokenize's blockchain infrastructure, with Tokenize's community growing as it connects with Animoca's users.
Users will have a more seamless experience buying and selling TKX following the partnership while Tokenize will have the ability to create new blockchain products. The partnership will strengthen Titan Chain, making more secure.
Hong Qi Yu, CEO and founder of Tokenize Xchange, said leveraging Animoca's expertise in blockchain gaming and digital assets will enable Tokenize to "deliver unprecedented value to users" and "significantly enhance [their] ability to innovate across DeFi, GameFi, and NFTs, solidifying Tokenize's position as a leader in the digital asset space."
Yat Siu, Amimoca co-founder and executive chairman, said Tokenize and Titan Chain's vision aligns closely with Animoca's "mission to advance digital property rights and foster an open metaverse."
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"By combining Titan Chain's robust infrastructure, Tokenize's strong market presence in Southeast Asia, and our expertise in gaming and digital collectibles, we aim to build innovative, user-centric blockchain solutions that will drive mass adoption in Southeast Asia,” Yat Siu said.
The partnership follows Tokenize's recent $11.5 million Series A phase 2 funding, team expansion in Singapore, and the appointment of a new chief strategy officer, Carney Mak.
Tokenize Xchange said in March that it intends to expand its Singapore team from 20 to 100 staff over the next 18 months. A quarter of these new hires will be in compliance and operations.
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In July, Mak joined Tokenize as the exchange aims to catalyze its ambitious growth plans and brings his wealth of experience in fintech and crypto ventures at FXHB Asset Management.
"Carney's appointment is a game-changer for us," said Hong Qi Yu, founder and CEO of Tokenize Xchange. "His strategic vision and deep industry knowledge are exactly what we need as we navigate the complex, evolving landscape of digital assets in Southeast Asia."
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