Crypto payment app hi has received a $30 million investment from Animoca Brands. In addition, hi has forged a partnership with Animoca Brands to help bring utility to NFTs across its portfolio companies and throughout the Web3 ecosystem.
hi plans to use the funding to expand its applications and gear up for the mainnet launch of its EVM compatible hi Protocol.
According to Sean Rach, co-founder of hi, the protocol operates as a neobank, or a digital-only digital application that provides banking services, allowing users to transact in crypto or fiat. The majority of hi's user base currently exists in Europe, though they plan to expand into Asia, Latin America, and eventually the U.S. (with regulatory clarity).