Latin America (LATAM) is widely recognized as a leading region in terms of cryptocurrency adoption, with four countries ranking among the top adopters. This region presents a fertile ground for crypto businesses and is primed to benefit from diversity and female leadership.
One such business is Galactic Holdings, the parent company of Trubit, a crypto trading platform focused on LATAM. Galactic Holdings recently secured $16 million in funding to empower the region through crypto.
In an exclusive interview, Maggie Wu, CEO and co-founder of Krypital Group and Galactic Holdings, shares her insights on the challenges facing the industry, the strategic moves behind securing investments in a competitive market, and her commitment to fostering diversity and female leadership in the tech sphere.
CT: Can you tell us about the pivotal moment that sparked your interest in cryptocurrencies and led you to become an early cryptocurrency advocate?
MW: In 2017, a friend introduced me to Bitcoin (BTC). Intrigued by the concept, I delved into the white paper and gained a deep understanding of the underlying blockchain technology. The potential for revolutionizing the financial landscape captivated me, and I believed it would be the next groundbreaking innovation. I decided to fully immerse myself in the cryptocurrency industry.
CT: How did your academic journey influence your career choices, particularly in the field of cryptocurrencies?
MW: I completed my undergraduate degree at Xiamen University in China. Since moving to the United States in 2005, I have been involved in entrepreneurship and investments in various fields. My career took a significant turn when MIT Sloan introduced blockchain-related courses in 2018. Recognizing the industry’s potential, I enrolled to deepen my understanding.
In addition to formal education, I am committed to daily learning, which has greatly influenced my personal development, especially in the rapidly evolving field of cryptocurrencies.
CT: In 2017, you founded Krypital Group. What inspired you to start this venture and how has it impacted the cryptocurrency ecosystem?
MW: As I mentioned earlier, my journey began in 2017, which led me to establish Krypital Group, a venture capital firm and incubator dedicated to the cryptocurrency and blockchain technology space.
At that time, the industry was still in its early stages, and I saw an opportunity to contribute to the development of early-stage projects and provide valuable support based on my years of experience in entrepreneurship and investment. We invested in dozens of projects and incubated nearly 10, positioning ourselves as catalysts and witnesses to the industry’s growth. The experiences gained during that period continue to guide our journey to this day.
CT: You founded Galactic Holdings with a focus on the Latin America region. 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 high inflation rates. Our vision is to emphasize the borderless nature of the cryptocurrency industry and act as a bridge for positive change.
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 population.
CT: Galactic Holdings has launched several leading services for the LATAM region, such as TruBit, TruBit Pro, and the MMXN stablecoin. Can you explain what these services offer to the region?
MW: We are building 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, making it the first and only stablecoin operational in Mexico. It is supported for buying, selling, and trading within our platform.
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 technology and offer low-cost, 24/7 transactions with direct user asset control.
For example, 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 the MMXN stablecoin enhance our ecosystem by 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 successful fundraising round. Can you shed some light on how you secured investments in such a dynamic and competitive industry?
MW: Our recent fundraising success can be attributed to several key factors that demonstrate the strength and vision of Galactic Holdings in this dynamic and competitive industry.
Firstly, the potential for growth in the Latin American market played a significant role. After three to four years of dedicated efforts in the region, we have established a solid foundation in various aspects, including products, user base, and compliance. Despite industry uncertainties, we have consistently operated securely, experiencing steady growth without any issues. Investors recognize and appreciate our achievements in the LATAM market.
Secondly, our sector continues to show 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 building 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.
Moreover, our unique advantages, including our 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 am acutely aware of the scarcity of women, especially in high-level positions. Women in the fintech industry often face biases, struggle for recognition, and may be unfairly labeled, presenting significant challenges for female professionals.
This has heightened my sense of responsibility and compelled me to help more women make their mark. Our company culture and team are dedicated to creating a female-friendly work environment that promotes gender equality. In fact, nearly half of our employees are women.
Despite the challenges faced by women in the industry, I believe women possess unique strengths in creating value. My experience has shown me that through continuous learning, fostering professional growth, maintaining self-confidence, and persevering, women can achieve remarkable success in any field.
Throughout my career, I have dedicated 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, provide more opportunities for women, and foster a more inclusive and equal direction for the entire cryptocurrency sector.
CT: Can 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 crucial in the cryptocurrency ecosystem, working together to drive innovation and growth. Our team exemplifies diversity, with members from the U.S., Mexico, Argentina, China, and other countries, representing various educational and professional backgrounds.
Female leaders play a pivotal role in providing unique insights and leadership styles at the highest levels. The combination of diversity and female leadership brings a broader, more 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 in Latin America?
MW: Female entrepreneurs in the cryptocurrency industry in Latin America have tremendous growth potential. The evolving industry landscape provides active opportunities for women to participate in and lead this dynamic sector. In recent years, I have witnessed an increasing number of female entrepreneurs entering the field. Although their numbers are still relatively small, 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.
For more information about Galactic Holdings, please visit their website.