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DDC Enterprise Limited (DDC) signed a non-binding memorandum of understanding with Animoca Brands for a strategic partnership involving up to $100 million in Bitcoin assets, according to a company statement.
Under the agreement, Animoca Brands will allocate up to $100 million in Bitcoin toward yield enhancement strategies operated by DDC. The partnership aims to develop and implement strategies that maximize yield for Animoca Brands’ Bitcoin assets while managing associated risks.
Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, will join DDC’s newly formed Bitcoin Visionary Council to provide strategic guidance for the company’s Bitcoin treasury operations.
"This partnership with Animoca Brands marks a transformative step for DDC and reflects our shared vision to accelerate Bitcoin’s role as a pristine monetary asset," said Norma Chu, Chairwoman, Founder and CEO of DDC.
Siu stated that the partnership "enables Animoca Brands to enhance the value of our blockchain technologies and maximize the value of our Bitcoin holdings."
DDC describes itself as maintaining its foundation as a global Asian food platform while positioning Bitcoin as a core reserve asset. The company operates culinary brands including DayDayCook, Nona Lim, and Yai’s Thai.
Animoca Brands is a Web3 company that focuses on tokenization and blockchain technology to deliver digital property rights to consumers. The company has received recognition including Fortune Crypto 40 and Financial Times’ High Growth Companies Asia-Pacific listings.
The memorandum of understanding is non-binding, meaning either party can withdraw from the agreement.