Are you curious about the new buzz in the financial technology world? The Web3 Neobank, hi, has been gaining attention after a significant investment from Animoca Brands, a titan in the metaverse gaming industry. This strategic partnership aims to enhance the use of NFTs in the finance sector, fostering the development of innovative products.
Animoca Brands: Betting Big on hi
Known for its Ethereum-based metaverse game, The Sandbox, Animoca Brands has invested a whopping $30 million into hi. This decision follows hi’s successful partnership with Mastercard, launching crypto-themed debit cards that have stirred the financial waters. The investment is expected to amplify hi’s existing services and stimulate the creation of novel ones.
The Partnership’s Prospective Benefits
According to Sean Rach, hi’s co-founder, the collaboration with Animoca Brands is set to bring manifold advantages. The users will be able to perform direct transactions using Animoca Brands tokens such as SAND, EDU, APE, REVV, and GMEE through hi Debit Cards. Furthermore, corporate accounts might become a part of hi’s services, with Animoca’s substantial influence in Latin America potentially unlocking new markets.
hi’s Strides Towards Converging Savings, Investments, and Payments
Ever since digital assets came into existence over a decade ago, consumers have been struggling to navigate between fiat and digital currencies. hi is addressing this issue by constructing a comprehensive service where savings, investments, and payments merge. The platform already boasts nearly 3.5 million users, with a million undergoing KYC checks. Both companies view the hi Protocol—a layer-2 solution for Ethereum—as a pivotal area for value addition. They are committed to providing developers with a unique mechanism for human authentication, akin to the recent Worldcoin project, or as Rach put it, a “Google login for Web3.”
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