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Cryptocurrency exchange Tokenize Xchange has secured funding from Animoca Brands to launch its own blockchain network called “Titan Chain.”
Southeast Asian cryptocurrency exchange Tokenize Xchange (aka Tokenize) has secured a major boost for its Titan Chain blockchain network through a strategic investment from Animoca Brands, a Hong Kong-based gaming software company and venture capital firm.
On September 16th Press releaseAnimoca Brands, known for its ventures in the blockchain and web3 gaming space, announced that it would invest in Tokenize’s native token, TKX, and provide market-making services aimed at improving the liquidity and trading efficiency of TKX and other tokens within the ecosystem. However, the investment amount was not disclosed.
With the funding, Animoca Brands will also become the largest validator of Titan Chain, a blockchain network built on the Cosmos SDK with full compatibility with the ethereum Virtual Machine, the press release reads.
Tokenize founder Hong Qi Yu emphasized the strategic importance of the investment, saying the partnership “will significantly enhance our ability to innovate in DeFi, GameFi, and nft (…).”
Founded in 2017 and headquartered in Singapore, Tokenize operates with regulatory exemptions from the Monetary Authority of Singapore and holds a full digital asset exchange license from the Securities Commission of Malaysia. In March, the exchange secured $11.5 million in Series A funding from Trive Capital.
