Thailand VC Firm KX Invests in Magic and Transak in Pursuit of Web3 Adoption
Thailand-based venture capital firm KX is investing in startups that develop tools for onboarding new users as part of its strategy to boost web3 adoption in Southeast Asia. KX believes that the region, which already ranks highly in crypto adoption, can play a crucial role in the growth of decentralized commerce. KX has invested in Magic, a wallet-as-a-service infrastructure provider, and Transak, a platform focused on onboarding users from web2 to web3. The firm also created an NFT marketplace called Coral and a crypto investment platform called Bigfin.
Main Breakdowns:
- Thailand’s KX is investing in startups to boost web3 adoption in Southeast Asia.
- The firm has invested in Magic and Transak as part of its strategy.
- Southeast Asia is already highly ranked in crypto adoption, particularly in trading and defi.
- Thailand has a growing crypto community and hosts the annual Blockchain Genesis event.
- KX believes Thailand can emerge as a leader in decentralized commerce.
Hot Take: With its investments in Magic and Transak, KX is positioning itself at the forefront of web3 adoption in Thailand and Southeast Asia. The region’s high crypto adoption rates and growing ecosystem of web3 startups make it a prime location for decentralized commerce. KX’s focus on onboarding new users and creating user-centric interfaces aligns with the goal of making web3 more accessible and safer for individuals.
By
By
By
By
By
By