- Animoca Brands has announced a new partnership agreement. The company will partner with neobank hi.
- The startup will receive a $30 million investment as part of the deal. They will be used, among other things, to develop the EVM-compatible hi protocol.
Blockchain game developer Animoca Brands has announced a strategic partnership with neobank hi. As part of the agreement, the firm has invested $30 million in the startup.
“We have entered into a memorandum of understanding and partnership [MoU] to support hi’s dedicated work to unite the fiat and cryptocurrency worlds with the mass popularization of Web3, and to create practical use cases for utility tokens such as SAND, EDU, and APE,” Animoca Brands said in a statement.
According to the press release, the partnership is designed to create a deep integration between the company’s ecosystem and users of hi. The startup offers storage and exchange services for both cryptocurrencies and fiat currencies. The firm has a license from regulators in Lithuania and Italy, according to The Block.
In December 2022, hi launched virtual debit cards in partnership with payment giant Mastercard. A distinctive feature of the project was the ability to customize with NFT.
“Such maps not only look amazing. This is a great opportunity to show the world a commitment to a specific community,” said hi co-founder Sean Rach.
In a comment to CoinDesk, he said the additional capital will be used for two purposes – scaling the app and developing the company’s EVM-compliant L2 sidechain.
Raich said he expects the partnership with Animoca Brands to accelerate the integration of POHI identifiers into the KYC procedure. Recall, we previously reported that the company has partnered with Mitsui firm. As part of the agreement, the parties will jointly develop Web3 infrastructure in Japan.
According to the agreement, the parties will jointly develop Web3 infrastructure in Japan.