KX drives web3 adoption with crypto startup investments
One of Thailand’s leading venture capital firms says it’s focused on boosting web3 adoption in its home country and the region by investing strategically in startups developing essential tools for onboarding new users. KX, a venture builder subsidiary of Kasikorn Business Technology Group, has today announced that it invested in Magic and Transak earlier this year as part of its comprehensive strategy focused on “decentralized commerce.” The firm believes Southeast Asia can play a crucial role in its growth and wants to be at the front and center of that drive . The region already ranks very highly in crypto adoption , with Vietnam, the Philippines, and Thailand all rated as the top 10 countries by Chainalysis, a blockchain Analysis firm. You might also like: Vietnam second largest ASEAN crypto holder The report also notes that crypto activity in the region is drive n by trading activity and decentralized finance (defi). Southeast Asia also has numerous web3 s...