Editor’s letter: From zero to unicorn in 2 years

Dear readers,

Matrixport’s meteoric rise is the perfect example of how fast things are moving in the cryptocurrency space. Last week, we covered how the Singapore startup has reached a valuation of US$1 billion in just two years.

The founders’ credentials certainly help – they were also the brains behind Bitmain, which is perhaps the largest seller of crypto mining rigs in the world.

Matrixport plays a different role in the crypto space: It helps its clientele make passive income. In the story, we revealed how its investment products borrow a page or two from its counterparts in traditional finance.

Photo credit: Marco Verch

Speaking of finance, I took a bus tour through Singapore’s gleaming financial district with the family over the weekend (my kids adore buses).

Given that the country is seen as a regional banking hub, we thought it made sense to launch a newsletter that focuses on the fintech sector.

We’re calling it The Top Up – an apt name, considering that millions of people across Asia are now topping up their e-wallets to carry out all kinds of digital transactions. We also aspire to make this product your weekly top-up of fintech insights.

(Anyway, that’s two-for-two for our chief copyeditor, Eileen, who also came up with the name for our ecommerce newsletter.)

By launching The Top Up, we’re also deepening our coverage of the two industries that matter most to our readers. Fintech is unique because it touches so many other industries. Ecommerce, for example, can’t thrive without a functional payments network to support it.

The progress in fintech is one reason why India’s direct-to-consumer apps are set to enter a golden decade. Fintech’s rise also explains why ShopBack, a Singapore online cashback startup, posted a revenue growth of 150%.

We expect both fintech and ecommerce to work in tandem to bring even more transactions online and onto mobile phones.

Let’s go back to the bus ride: Skyscrapers weren’t the only highlight. We jaunted into the Singapore Botanic Gardens, which reminds us that concrete jungles are nourished by all manner of plants and crops.

Food supply will become a vital issue this century as climate change forces us to change the way we grow our food.