Crypto exchange Tokenize Xchange secured funding from Animoca Brands to launch its own blockchain network called “Titan Chain.”
Southeast Asian cryptocurrency exchange Tokenize
In a September 16 press release, Animoca Brands, known for its ventures in the blockchain gaming and web3 space, announced that it would invest in Tokenize’s native token, TKX, and provide market-making services aimed at improving liquidity and trading efficiency for TKX and other tokens within the ecosystem. However, the amount of the investment was not disclosed.
With the funding, Animoca Brands will also become the largest validator for Titan Chain, a blockchain network built on the Cosmos SDK with full Ethereum Virtual Machine compatibility, the press release said.
Tokenize founder Hong Qi Yu emphasized the strategic importance of the investment, saying the partnership “will significantly increase our ability to innovate in the fields of DeFi, GameFi and NFTs. […].”
Founded in 2017 and headquartered in Singapore, Tokenize operates under regulatory exemptions from the Monetary Authority of Singapore and holds a full Digital Asset Exchange license from the Malaysian Securities Commission. In March, the exchange secured $11.5 million in Series A funding from Trive Capital.
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