- Galactic Holdings, has successfully raised $10 million in its Pre-A round. The investment was led by BAI Capital, with participation from Animoca Brands, Y2Z Ventures, Longling Capital, Head & Shoulders, TKX Digital Group, Perseverance Capital, and Palm Drive Capital, etc.
- This round solidifies Galactic Holdings' position as an industry leader in LATAM, as they are one of the few cryptocurrency companies to achieve this milestone during the current bear market cycle, and represents the investors' confidence in all the work they have been doing over the last 3 years.
- The successful closing of this Pre-A fundraising round will enable the company to focus on continuously expanding its team, developing innovative products, and ensuring compliance with all necessary regulations to provide a safe and reliable experience for its users.
MEXICO CITY, MEXICO / ACCESSWIRE / April 17, 2023 / Galactic Holdings, a leading cryptocurrency company in Latin America, has announced the successful completion of a $10 million Pre-A private investment round. The investment was led by BAI Capital, with participation from Animoca Brands, Y2Z Ventures, Longling Capital, Head & Shoulders, TKX Digital Group, Perseverance Capital, and Palm Drive Capital, etc. This round solidifies Galactic Holdings' position as an industry leader in LATAM, as they are one of the few cryptocurrency companies to achieve this milestone during the current bear market cycle, and represents the investors' confidence in all the work they have been doing over the last 3 years.
According to a report by Chainalysis, Latin America is now a significant player in the global cryptocurrency market, with the region ranking as the seventh-largest cryptocurrency market in the world as of 2022. The report also reveals that citizens of Latin American countries received $562.0 billion in crypto between July 2021 and June 2022, indicating a growing interest in cryptocurrencies in the region. The increase in cryptocurrency adoption in Latin America can be attributed to several factors, including high inflation rates, limited access to traditional banking services, and a large population of unbanked individuals.
In this context, by offering an all-in-one ecosystem for cryptocurrency transactions, which includes a crypto wallet (TruBit Wallet), a crypto exchange (TruBit Pro), and Mexican Pesos pegged stablecoin (MMXN), Galactic Holdings aims to make it easier and more convenient for users to access and use cryptocurrencies, whether for trading, remittance or payment purposes.
"With the continuous growth of the cryptocurrency market in Latin America, we aim to build a solid and comprehensive infrastructure in LATAM, so that mass adoption in the traditional world can benefit from the cryptocurrency world more conveniently and quickly," said Maggie Wu, CEO and Co-founder of Galactic Holdings. "In the past three years, we have laid a solid foundation in Mexico, and this Pre-A round of fundraising will continue to support our expansion to other Latin American countries, such as Argentina, Brazil, Colombia, and Venezuela. Our mission is to let every user enter and exit the cryptocurrency world with the lowest threshold, and at the same time be able to truly use cryptocurrency in their daily life."
Galactic Holdings recently integrated bank transfer, credit card, debit card as payment methods, making it the most complete ramp on and off crypto platform in Mexico under compliance. The successful closing of this Pre-A fundraising round will enable the company to focus on continuously expanding its team, developing innovative products, and ensuring compliance with all necessary regulations to provide a safe and reliable experience for its users.
"We have always believed that cryptocurrency is full of opportunities in the Latin American market. Thanks to our investors believing in our vision and development roadmap, we are committed to working hard and continuing to offer the best experience to our users, and of course, to continue growing together in the future," concluded Maggie Wu.
About Galactic Holdings:
Galactic Holdings is the first and complete digital finance company with the vision to empower people in LATAM with comprehensive crypto services. Galactic Holdings offers a series of digital crypto products including a crypto wallet TruBit Wallet, a crypto exchange TruBit Pro, and Mexican Peso pegged stablecoin MMXN. Maggie Wu, the CEO and Co-founder of Galactic Holdings, is tasked with the mission to elevate the LATAM Crypto Market to a whole new level.
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SOURCE: Galactic Holdings