Latin America (LATAM) has emerged as a leading region in terms of cryptocurrency adoption, with four countries ranking among the top adopters. The region is primed for crypto business and is ready to harness the benefits of diversity and female leadership.
One company making waves in this space 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 interview, Maggie Wu, CEO and co-founder of Krypital Group and Galactic Holdings, discusses the challenges faced by the industry, the strategic moves behind securing investments, and her commitment to diversity and female leadership in the tech sphere.
CT: Can you tell us about the moment that sparked your interest in cryptocurrencies and led you to become an early 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 blockchain technology. I was captivated by its potential to revolutionize the financial landscape. This led me to fully immerse myself in the cryptocurrency industry.
CT: How did your academic journey influence your career choices in cryptocurrencies?
MW: I completed my undergraduate degree in China and have been involved in entrepreneurship and investments since moving to the United States in 2005. MIT Sloan played a crucial role in shaping my career when they introduced blockchain-related courses in 2018. Recognizing the industry’s potential, I enrolled to deepen my understanding. Continuous learning has been a key factor in my self-development in the ever-evolving field of cryptocurrencies.
CT: In 2017, you founded Krypital Group. What inspired this venture and how has it impacted the cryptocurrency ecosystem?
MW: In 2017, I established Krypital Group, a venture capital firm and incubator focused on cryptocurrency and blockchain technology. At that time, the industry was in its early stages, and I saw an opportunity to contribute to the development of early-stage projects and provide support. We invested in numerous projects and incubated nearly 10, positioning ourselves as catalysts for the industry’s growth. The experiences gained during that period continue to guide us today.
CT: You founded Galactic Holdings with a focus on Latin America. 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. By infusing superior resources, developing outstanding products, and delivering top-notch services, we aim to accelerate the region’s development and contribute to the widespread acceptance of cryptocurrencies globally.
CT: Galactic Holdings launched leading services for the LATAM region, such as TruBit, TruBit Pro, and the MMXN stablecoin. What do these services offer to the region?
MW: We are building a comprehensive ecosystem in Latin America. TruBit offers a wallet with fiat-to-crypto trading, conversion, crypto cards, crypto gift cards, and financial products like the Earn+ feature. TruBit Pro is 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 first and only operational stablecoin in Mexico. It is supported for buying, selling, and trading within our platform.
CT: How do you plan to position crypto as a reliable alternative to traditional finance in the region?
MW: Understanding the challenges of 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, in 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 transactions and a stable store of value. Our compliance efforts 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. How did you secure investments in such a dynamic and competitive industry?
MW: Our successful fundraising can be attributed to several key factors that showcase the strength and vision of Galactic Holdings. Firstly, the inherent growth potential in the Latin American market played a significant role. With years of dedicated efforts in the region, we have established a solid foundation across various aspects. Investors recognize and appreciate our achievements in the LATAM market. Secondly, our sector continues to show promising prospects. Platforms like TruBit, TruBit Pro, and the MMXN stablecoin contribute to constructing a more flexible and convenient financial ecosystem. Investors are optimistic about our direction and believe in our ability to achieve substantial goals. Furthermore, our international background, diverse cultural perspective, robust technology, and innovative capabilities set us apart. Investors trust our team and recognize our unique advantages.
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 have experienced the scarcity of women, particularly in high-level positions. Women in the fintech industry often face biases and struggle for recognition. This has fueled my sense of responsibility to assist more women in making their mark. Our company culture promotes gender equality, and nearly half of our employees are women. I believe that through continuous learning, fostering professional growth, maintaining self-confidence, and persevering efforts, women can achieve outstanding success in any field. I am dedicated to paving the way for more women by using the power of role models and persistent efforts to reshape the industry landscape.
CT: 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, driving innovation and growth. Our team is diverse, with members from different countries and backgrounds. Female leaders provide unique insights and leadership styles at the highest levels. 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 and lay a solid foundation for the sustainable growth of our company.
CT: What is 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 and lead in this dynamic sector. I have personally witnessed an increasing number of female entrepreneurs entering the field. 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.