Tokenize Xchange received funding from Animoca Brands to introduce “Titan Chain,” a proprietary blockchain network.
Tokenize Xchange, a cryptocurrency exchange based in Southeast Asia, has received a significant boost for its Titan Chain blockchain network from Animoca Brands, a game software and venture capital company based in Hong Kong.
Animoca Brands, a company well-known for its forays into the web3 and blockchain gaming spaces, revealed in a press release on September 16 that it would invest in Tokenize’s native token, TKX, and offer market-making services to enhance the liquidity and efficiency of trading TKX and other tokens in the ecosystem.
However, the investment’s total sum remained undisclosed. According to the press release, Animoca Brands will also use the funding to become Titan Chain’s largest validator.
Titan Chain is a blockchain network developed using the Cosmos SDK and fully supports the Ethereum Virtual Machine.Â
The investment’s strategic significance was underlined by Tokenize creator Hong Qi Yu, who claimed that the collaboration will “significantly enhance our ability to innovate across DeFi, GameFi, and NFTs.”
Established in 2017, Tokenize is based in Singapore and functions under regulatory exemptions granted by the Monetary Authority of Singapore.
The Malaysian Securities Commission has granted it a complete license to operate as a digital asset exchange. Trive Capital provided $11.5 million in Series A funding for the exchange in March.
