The two companies will establish a DePIN alliance in south-east Asia.AIOZ's native token is currently trading flat after the announcement, it is up by more than 200% in 30 days.AIOZ Network will use Alibaba Cloud to improve Web 3, AI, storage and streaming services.Decentralized infrastructure network (DePIN) AIOZ Network has become the leading blockchain partner in Alibaba Cloud’s Innovation Accelerator initiative, according to a blog post.

AIOZ’s native token (AIOZ) is currently trading at 90 cents, having remained stable after the blog post was published. It is up by more than 200% in the past 30 days, according to CoinMarketCap.

The two companies will also establish a DePIN alliance in south-east Asia.

Singapore-based AIOZ Network will use Alibaba Cloud’s cloud services to expand its ecosystem as well as improve Web 3 AI, storage and streaming infrastructure.

“This collaboration with Alibaba Cloud represents a significant step forward. We are excited to foster and support groundbreaking innovations from the next generation of developers,” said AIOZ Network founder Erman Tjiputra.

Alibaba Cloud has now made several forays into the crypto industry, it built a metaverse launchpad on Avalanche last May before teaming up with NEAR to boost Web 3 adoption in Asia one month later.