Social network Hi5 has been racking up the partnerships lately – most recently on the payments front with Paymo and PlaySpan. However, the company also recently struck a deal with Mochi Media, a company that helps developers monetize their Flash games with in-game ads.

Under the partnership, Hi5 will gain access to Mochi’s extensive game library. In turn, the social network will enable players to purchse virtual goods with Hi5′s universal virtual currency, Hi5 Coins. Of the 7000 flash titles available on Mochi Media, Hi5 will integrate its virtual currency with about 200 of them. More integrations will follow.

“Through this partnership, we will offer Hi5’s 62 million monthly unique users with non-stop, interactive entertainment, while providing a wider reach for advertisers and developers,” says Justin Wong, vice president of business development for Mochi Media.

With around 100 million unique visitors a month, Mochi makes most of its revenue from its ads. Terms of the revenue share were not disclosed.

hi5 recently laid off a good portion of its staff and has been refocusing on a social game portal model. These partnerships reflect the company’s hopes that it can monetize its audience of 62 million users across 33 countries through virtual goods transactions.