Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) announced that its investee Hivello has partnered with Bitcoin Layer 2 solutions innovator Zulu Network to increase Hivello’s exposure within Bitcoin ecosystems.
Blockmate owns a 67% stake in Hivello, a platform that allows users to generate passive income from their unused computer resources.
Hivello said in a statement that the partnership brings together its expertise in decentralized physical infrastructure (DePIN) and Zulu’s advanced blockchain technology, with aims to foster greater transparency, accessibility and interoperability within the blockchain space.
Hivello will leverage Zulu’s global structure and international audience to significantly broaden its reach.
Zulu intends to use Hivello’s platform stack for future integrations to scale its offerings, attract more DePIN projects, and cement its position in the DePIN market.
"This partnership with Zulu opens the door for Hivello to be integrated with the rapidly growing Bitcoin ecosystem,” Blockmate Ventures CEO Justin Rosenberg said in a statement.
“Operating a network with 755,000-plus users, Zulu’s interest in partnering with Hivello, a leading DePIN aggregator, further validates the broad need for Hivello's application.”
Hivello chairman and co-founder Domenic Carosa added: “Partnering with Zulu opens up new possibilities for Hivello users, giving them access to the Bitcoin ecosystem and expanding our reach within the blockchain space.”