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Hello reader,
I’m ashamed to admit that I rarely watch even the greatest Hollywood movies unless I think it might help with work.
But I had to give Rocky a shot because its underdog tale of determination and grit inspires people from all walks of life, even today.
The story of the Philippines’ crypto firms, which had been overlooked by the country’s startup ecosystem, is not that different.
Just as Rocky rose as an unlikely contender to the mighty Apollo Creed through unconventional training, crypto startups in the Philippines do not fit into conservative investment mandates but have secured sizable funding rounds.
These startups have done so by adopting tech amid the Covid-19 pandemic. They have also used their knowledge of the crypto space to get ahead of the curve.
I hope this story gives you a chance to take a look at some of the country’s startups that have flown under the radar, because every champion was once a contender who refused to give up.
Today we look at:
- The potential rise of a new crypto hub in Asia
- A former Grab executive driving Carsome’s operations in Thailand
- Other newsy highlights such as Singapore Press Holdings’ reported sale of a car marketplace, and the closure of an Indonesian agritech startup’s warehouses.
Premium summary
Raining crypto in the Philippines
Image credit: Timmy Loen
The Philippines could be Asia’s next crypto hub as local startups in the space are securing money at rising valuations.
Crypto players are also driving financial inclusion for the country’s unbanked as they leapfrog the banking system by putting crypto wallets into people’s hands.
Ex-Grab exec joins Carsome in Thailand
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