HashKey Group has announced its entry into the Web3 space through a new partnership with Catizen, a Telegram Mini App.
According to a press release issued today, August 19, this collaboration aims to harness The Open Network (TON) ecosystem to create innovative web3 gaming products and enhance the global digital entertainment infrastructure.
HashKey Global, the licensed exchange under HashKeyGroup, will provide Catizen users with access to secure and regulatory-compliant digital asset services, marking a significant step in expanding their digital offerings.
Ben El-Baz, Managing Director of HashKey Global, noted a significant rise in developers on the TON blockchain over the past one or two quarters, indicating a thriving ecosystem. He emphasized that the presence of experienced teams, particularly those working on decentralized finance (DeFi) projects and gaming applications like Catizen, played a crucial role in HashKey’s decision to partner with the platform.
Tim Wong, Chairman of the Catizen Foundation, highlighted challenges within the GameFi sector and Web3 gaming, noting that both Web3 and traditional Web2 games often face short lifecycles. He emphasized the need for robust data tracking systems to monitor user engagement and guide strategic decisions. Wong underscored the importance of tracking on-chain interactions for third-party platforms within Catizen, which currently has over 120 million daily active users.
This partnership follows a strategic alliance announced in April between the TON Foundation and HashKey to expand crypto and Web3 wallet services across the Asia Pacific region. That collaboration aimed to improve fiat on- and off-ramps for Telegram crypto wallet users and support blockchain projects through HashKey’s expertise and incubation efforts.
Steve Yun, president of the TON Foundation, stated that the partnership would strengthen existing communities and attract new mini-app developers to the TON ecosystem.
In a related development last week, TON partnered with decentralized data oracle Pyth Network to enhance data delivery for developers on the TON blockchain. This integration of Pyth’s real-time, institutional-quality price data is expected to boost the development of decentralized applications (DApps) and decentralized finance (DeFi) solutions on the network.
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