Singapore’s crypto exchange Tokenize secures funding from Animoca Brands for its blockchain

Cryptocurrency exchange Tokenize Xchange has received funding from Animoca Brands to launch its own blockchain network called “Titan Chain.”

Southeast Asia’s cryptocurrency exchange Tokenize Xchange (also known as Tokenize) has received a significant boost to its Titan Chain blockchain network with a strategic investment from Hong Kong-based gaming software company and venture capital firm Animoca Brands.

Animoca Brands, known for its ventures in blockchain gaming and web3, announced in a press release dated September 16 that it will invest in Tokenize’s native token, TKX, and provide market-making services aimed at improving liquidity and transaction efficiency for TKX and other tokens within the ecosystem. However, the investment amount was not disclosed.

The press release stated that with the funding provided, Animoca Brands will also become the largest validator for Titan Chain, a blockchain network built on the Cosmos SDK and fully compatible with the Ethereum Virtual Machine.

Tokenize founder Hong Qi Yu emphasized the strategic importance of the investment, saying the partnership will “significantly enhance our ability to innovate across 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 Securities Commission Malaysia. In March, the exchange secured $11.5 million in Series A funding from Trive Capital.