A Surprise Altcoin Announced a Partnership with OKX

OKX Ventures, the investment arm of cryptocurrency exchange OKX, has formed a strategic partnership with Animoca Brands’ digital identity project, Moca Network. Under the agreement announced today, OKX Ventures has committed to allocating a portion of its MOCA token reserves to co-investment opportunities within the ecosystem.

The two parties will jointly identify high-potential projects developed on the Moca Network and support their growth. The amount of tokens to be allocated or the dollar equivalent of the investment budget has not been disclosed.

The support will be directed specifically towards digital identity-focused consumer applications using AIR Kit and Moca Chain infrastructure. As the selected projects develop, additional investment from Animoca Brands and OKX Ventures may also be considered.

The agreement is not limited to funding. Supported teams will be able to benefit from OKX’s payment services, traditional-to-crypto migration infrastructure, and OKX Wallet integration.

Jeff Ren, co-founder of OKX Ventures, stated that their goal is to provide developers with capital, infrastructure, and expertise to grow globally. Yat Siu, co-founder of Animoca Brands, said that digital identity infrastructure will play a central role in the next phase of the internet.

The new partnership is a continuation of OKX Ventures’ investment in the Moca ecosystem in 2024. Moca Network works on authentication and data portability across different blockchains, using MOCA as its usage and governance token.