Huobi Global, a cryptocurrency exchange, has announced a strategic partnership with Gala Games, a blockchain-based gaming platform that allows players to earn cryptocurrencies or use non-fungible tokens (NFTs) to purchase and sell in-game items.
The partnership between the two companies will focus on developing the Web3 ecosystem and investing in and listing projects on Gala’s platform. Unlike traditional games, the items purchased on Gala’s platform belong to the player and cannot be modified or removed without the player’s consent.
Huobi, originally founded in China and now based in Seychelles, is committed to this partnership to enhance the growth of the blockchain and cryptocurrency industry. By incorporating its services with Gala’s layer-1 blockchain, the gaming platform’s foundational technology will be enhanced. This collaboration will enable Huobi to improve its offerings and achieve its Web3 objectives.
The president of the blockchain at Gala Games, Jason Brink, has stated that the incorporation of its layer-1 network into top exchanges such as Huobi is a significant move towards achieving widespread adoption and ease of use.
Currently, Huobi Global is pursuing a license in Hong Kong, as new regulatory measures are being considered by the Chinese special administrative region. If granted the license, the crypto exchange would be able to offer its services to retail clients.
Furthermore, Huobi has announced its intention to expand its services beyond Hong Kong by introducing a Visa crypto-to-fiat debit card, which will be made available to its customers in the European Economic Area in Q2 of 2023.
