Latin America (LATAM) is known as one of the leading regions regarding crypto adoption, with four countries ranking among the top adopters. The region is ripe for crypto business and ready to benefit from diversity and female leadership.
One such business is Galactic Holdings, the parent entity of the LATAM-focused crypto trading platform Trubit, which has recently secured $16 million to empower the LATAM region through crypto.
In this interview, Maggie Wu, CEO and co-founder of Krypital Group and Galactic Holdings, shares her insights on the industry’s challenges, the strategic moves behind securing investments in a competitive market and her commitment to fostering diversity and female leadership within the tech sphere.
CT: Can you share with us the pivotal moment that sparked your interest in cryptocurrencies and led you to become an early cryptocurrency evangelist?
MW: In 2017, I was introduced to Bitcoin (BTC) through a friend. Intrigued by the concept, I delved into the white paper and gained an understanding of the underlying blockchain technology. The potential for revolutionizing the financial landscape captivated me, leading me to believe this would be the next groundbreaking innovation. Consequently, I decided to go all-in and immerse myself fully in the cryptocurrency industry.
CT: How did your academic journey influence your career choices, especially in the field of cryptocurrencies?
MW: I finished my undergraduate degree from Xiamen University in China. Since arriving in the United States in 2005, I’ve been involved in entrepreneurship and investments in different fields. MIT Sloan played a crucial role in shaping my career when, in 2018, they introduced blockchain-related courses. Recognizing the industry’s potential, I enrolled to deepen my understanding.
Beyond formal education, I maintain a daily commitment to learning, a practice that has significantly influenced my self-development, especially in the ever-evolving field of cryptocurrencies.
CT: In 2017, you founded Krypital Group. What is the inspiration behind starting this venture and its impact on the cryptocurrency ecosystem?
MW: As mentioned earlier, my journey began in 2017, prompting me to establish Krypital Group, a dedicated venture capital firm and incubation in the cryptocurrency and blockchain technology space.
At that time, the industry was still in its early stages, and leveraging my years of accumulated experience in entrepreneurship and investment, I saw an opportunity to contribute to the development of early-stage projects and provide valuable support.
In essence, we invested in dozens of projects and incubated nearly 10, positioning ourselves as catalysts and witnesses to the industry’s growth. The invaluable experiences from that period continue to guide us on our journey to the present day.
CT: You founded Galactic Holdings with a regional focus. What was your vision for this ecosystem?
MW: In 2020, I founded Galactic Holdings with a specific focus on Latin America. Recognizing the vast opportunities in the region, we bring in substantial international resources, especially in countries with inflation. Our vision is to emphasize the borderless nature of the cryptocurrency industry and act as a bridge for positive change.
Source: Chainalysis
By infusing superior resources, developing outstanding products, and delivering top-notch services, we aim to accelerate the region’s development, contributing to a world where the cryptocurrency industry is widely accepted and embraced by the global populace.
CT: Galactic Holdings launched some of the leading services for the LATAM region, such as TruBit, TruBit Pro and the MMXN stablecoin. Could you elaborate on what those services offer to the region?
MW: We are constructing a comprehensive ecosystem in Latin America. TruBit serves as a wallet that includes fiat-to-crypto trading, conversion, crypto cards, crypto gift cards and financial products such as the Earn+ feature. On the other hand, TruBit Pro provides a platform for professional cryptocurrency traders, offering spot and derivative trading, copy trading, AI trading tools and more.
MMXN is a stablecoin pegged to the Mexican peso, the earliest and only stablecoin operational in Mexico. It is supported for buying, selling and trading within our platform.
TruBit offers a comprehensive ecosystem for Latin American users. Source: TruBit
CT: How do you plan to make crypto a reliable alternative to traditional finance in the region?
MW: Understanding the challenges in traditional finance, we aim to position cryptocurrency as a compelling alternative. Cryptocurrency solutions utilize blockchain and offer low-cost, 24/7 transactions with direct user asset control.
As an illustrative case, consider cross-border payments. Traditional methods involve intermediaries, delays and high costs. Our cryptocurrency ecosystem streamlines this process, enabling businesses to conduct cross-border transactions more efficiently and affordably.
TruBit, TruBit Pro and MMXN stablecoin enhance our ecosystem, providing convenient, efficient transactions and a stable store of value. Our compliance efforts in countries like Mexico, Argentina and Brazil ensure a secure and legal environment, fostering trust in cryptocurrency as a reliable alternative to traditional finance.
CT: Galactic Holdings recently closed a fundraising round. Can you share some insights into how you secured investments in such a dynamic and competitive industry?
MW: Our recent successful fundraising can be attributed to several key factors, showcasing the strength and vision of Galactic Holdings in this dynamic and competitive industry.
Firstly, the inherent potential for growth in the Latin American market played a significant role. With three to four years of dedicated efforts in the region, we have established a solid foundation across various aspects, including products, user base, and compliance. Despite industry uncertainties, we have consistently operated securely, experiencing no issues while steadily growing. Investors recognize and appreciate our achievements in the LATAM market.
Secondly, our sector continues to exhibit promising prospects. By addressing pain points in traditional finance, we strive to position cryptocurrency as a viable alternative. Platforms like TruBit, TruBit Pro and the MMXN stablecoin contribute to constructing a more flexible, open, and convenient financial ecosystem. We have ambitious plans for the future and are confident in scaling our operations. Investors are optimistic about our direction and believe in our ability to achieve substantial goals.
TruBit Pro app provides access to advanced crypto trading features. Source: TruBit
Furthermore, our unique advantages, including an international background, diverse cultural perspective, robust technology and innovative capabilities, set us apart. Our team is our most valuable asset, earning recognition and trust from investors.
CT: As a female leader in the crypto industry, have you faced any unique challenges or opportunities, and how have you navigated them throughout your career?
MW: As a female leader in the cryptocurrency industry, I keenly feel the scarcity of women, especially in high-level positions. In the fintech industry, women often face biases, struggle for recognition, and may be unfairly labeled, presenting significant challenges for female professionals.
This has heightened my sense of responsibility, compelling me to assist more women in making their mark. Our company culture and team are dedicated to creating a female-friendly work environment promoting gender equality. In fact, nearly half of our employees are women.
Despite existing challenges for women in the industry, I believe women have unique strengths in creating value. My experience tells me that through continuous learning, fostering professional growth, maintaining self-confidence and persevering efforts, women will achieve outstanding success in any field.
Throughout my career, I’ve devoted myself to paving the way for more women, using the power of role models and persistent efforts to reshape the industry landscape. My goal is to change the current status quo, providing more opportunities for women and fostering a more inclusive and equal direction for the entire cryptocurrency sector.
CT: Could you discuss the importance of diversity and female leadership in the crypto ecosystem and how it contributes to innovation and growth?
MW: Diversity and female leadership are paramount in the cryptocurrency ecosystem, working together to drive innovation and growth. Our team’s diversity is evident, with members hailing from the U.S., Mexico, Argentina and China, among others, representing various educational and professional backgrounds.
Female leaders play a crucial role in providing unique insights and leadership styles at the highest levels. The combination of diversity and female leadership brings a more extensive, creative approach to our team.
In terms of innovation, diverse teams are better equipped to tackle challenges and attract a wider range of ideas. The presence of female leaders encourages more women to participate and excel in the industry, fostering innovative projects and business strategies.
Overall, diversity and female leadership complement each other, not only driving innovation but also laying a solid foundation for the sustainable growth of our company.
CT: How do you see the growth potential for female entrepreneurs in the cryptocurrency industry within Latin America?
MW: In Latin America, female entrepreneurs in the cryptocurrency industry have tremendous growth potential. The evolving industry landscape provides women with active opportunities to participate in and lead this dynamic sector. In recent years, I have personally witnessed an increasing number of female entrepreneurs entering the field. Despite their relatively limited numbers, this trend is highly encouraging.
I also anticipate seeing more support for female entrepreneurs from investment firms, incubators and governmental initiatives in the future. I firmly believe that as the cryptocurrency industry continues to develop and gain popularity in the region, more women will be attracted to and integrated into it. Female entrepreneurs in Latin America will have the opportunity to make significant contributions, bringing diverse perspectives and innovative thinking to the forefront of this transformative industry.
Find out more about Galactic HoldingsDisclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
