HashKey Group, one of Asia’s digital asset financial service providers, has entered into a collaboration with Catizen, a leading Web3 mini-game. This partnership will position Catizen as the first Web3 partner of the financial services provider to enhance the future of GameFi and global digital entertainment architecture.
HashKey Partners with TON Mini-Game Catizen
HashKey Group’s interaction with the TON Foundation in April has been crucial to this cause. This partnership with the TON Foundation aims to develop the TON ecosystem, which Catizen has also utilized. Since its inception, Catizen has been able to attract more than 29 million users globally.
The main goal of this partnership is to build and enhance gaming for worldwide audiences in the Web3 realm. These improved services will be offered through HashKey Global, the licensed exchange. In doing so, they will be in a position to develop a secure and stable channel for digital assets.
📢 We are thrilled to announce our partnership with @CatizenAI as our first Web3 partner! 🌐
And this is just the beginning—stay tuned for more collaborations between HashKey Global and Catizen! 🐶🐱
Read more 👉 https://t.co/V2fZJJo3Md pic.twitter.com/S6BJMmATYq
— HashKey Global (@HashKey_Global) August 19, 2024
HashKey Group Innovation and Regulatory Compliance
This is not a mere expansion but also a collaboration that focuses on innovation and adherence to legal aspects. Hence, the financial services provider will offer regulation compliance and blockchain back-end services to ensure that Catizen’s digital products are unique and meet international requirements. Such support is essential for preserving the effectiveness and stability of blockchain-based entertainment applications.
Managing Director of the financial services provider, Ben El-Baz, emphasized the importance of the partnership. He stated, “We are excited to continue participating in the global digital entertainment industry innovation based on our collaboration within the Ton ecosystem. Our goal is to provide compliant digital asset services to more players and, together with Catizen, explore the creation of a new paradigm that integrates digital finance and digital entertainment.”
In a related development, HashKey Global has opened new perpetual contracts for Solana, Dogecoin, and Avalanche. These products will enable traders to engage in many forms of trading and to leverage up to 10 times.
The new development aligns with the overall plan to expand derivatives services as it addresses the global crypto market’s trends.
Toncoin Market Reaction
Also, there has been a crucial token burn event within the Ton ecosystem that has improved its value proposition. To date, half of $INVITE has been burned, and 500 million tokens have been permanently taken out of the market. These include 400 million from mining, 25 million from project development, 25 million from the community and 50 million from the ecosystem fund.
Consequently, Toncoin has demonstrated a notable increase in market activity, registering a 24-hour volume surge of 154.32%, equating to $462,323,563. This spike in trading volume highlights growing investor interest and market liquidity, possibly spurred by recent developments. Currently, Toncoin is priced at $6.80, reflecting an 8.18% increase over the past week, which aligns with a broader upward trend observed in its market valuation.
Moreover, Toncoin’s market capitalization has risen by 4.11%, reaching approximately $17.1 billion, ranking it eighth globally among cryptocurrencies. This growth is complemented by its climbing daily active users and expanding utility within the crypto ecosystem.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience. He has worked extensively with various media outlets on cryptocurrency trends and technologies. When he’s not analyzing the latest crypto developments, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/hashkey-partners-with-toncoin-mini-game-catizen-to-boost-web3/
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