TruBit stands as Latin America’s most comprehensive cryptocurrency ecosystem under the banner of Galactic Holdings. The focal point of TruBit Pro, a cryptocurrency exchange platform that caters to seasoned traders, extends beyond spot trading and derivatives.
Meanwhile, the company’s primary mission is to empower retail wallet holders to purchase and sell cryptocurrencies using conventional bank transfers effortlessly. Their services also encompass facilitating local and international transfers, enabling seamless payments, and offering a prepaid card for direct cryptocurrency expenditures. Since its inception in Latin America three years ago, Galactic Holdings has made significant strides, successfully establishing fiat-to-crypto onramps and offramps in three key countries: Mexico, Argentina, and Brazil.
Founded by Maggie Wu, Galactic Holdings has experienced remarkable growth in terms of user base and geographical reach since 2020. Today, the company is excited to announce the successful closure of its Series A funding round, following closely on the heels of a $10 million pre-Series A round. As the parent company of TruBit, Latin America’s premier cryptocurrency platform, Galactic Holdings has secured $6.25 million in funding through this Series A endeavor. The round was spearheaded by Galaxy Interactive and DragonFly, with the valuable participation of SHK. This achievement not only solidifies the company’s standing as a significant player in the digital currency landscape but also charts a course for accelerated expansion in the Latin American market and the evolution of TruBit’s business ecosystem.
TruBit is strengthening its presence in LATAM.
During a recent podcast conversation with Beincrypto’s CMO, Vugar Usi, Maggie Wu expressed her gratitude for the unwavering support of their investors. She outlined their steadfast commitment to expanding their footprint across more Latin American countries. The ultimate goal, as she put it, is to make cryptocurrency services readily accessible to everyone for their everyday needs most straightforwardly and conveniently possible. Furthermore, the CEO of TruBit highlighted that the funds raised will be strategically allocated to maximizing presence across LATAM, with a primary focus on the Argentinian market.
In recent years, TruBit has witnessed a surge in demand for its services, thanks to the advent of nearshoring in Latin America. This trend has led to increased interaction between Latin America and Asia. Cryptocurrency, serving as an efficient cross-border payment solution, has become the bridge between these regions. There’s been a notable uptick in users hailing from countries outside of Latin America, particularly in the Asian region, embracing the products and solutions offered by TruBit.
Galactic Holdings plans to double its workforce
The triumphant close of the Series A funding round is not only a financial milestone for TruBit but also ushers in a significant team expansion. This phenomenon has been relatively rare in the current market climate. At present, Galactic Holdings boasts a team of nearly 100 professionals spread across LATAM. In an exciting development, Maggie Wu has revealed ambitious plans to double the global workforce by 2024, a strategic move to bolster the company’s capacity to execute Galactic Holdings’ expansion initiatives efficiently.
Series A Sparks Opportunities for TruBit prepaid cards in Argentina [EXCLUSIVE]
In 2023, TruBit embarked on a groundbreaking journey by establishing fiat gateways in three distinct countries, setting the stage for introducing its card offerings. Notably, Mexico served as the pioneering market for TruBit, offering a seamless spending experience through its innovative crypto-backed prepaid card product.
With the infusion of capital from the Series A funding round and a vision for broader horizons, TruBit is now gearing up to replicate its successful prepaid card offering in Argentina. The move aligns with their anticipation of substantial market growth, driven by market volatility and a surging demand for cryptocurrencies in the region.
As we peer into the future, TruBit’s expansion roadmap appears notably ambitious, with upcoming forays into countries like Colombia, Peru, Chile, Brazil, and more on the horizon. The company is poised for an exciting journey that promises to make a significant mark in the Latin American crypto landscape.
Fully compliant cryptocurrency platform
Since 2020, Galactic Holdings has been unwavering in its commitment to fostering close collaboration with Latin American authorities, with a steadfast focus on aligning with regulatory guidelines to ensure user safety and reliability. This unwavering dedication has culminated in the achievement of three pivotal milestones. The company has successfully integrated with Mexico’s financial authorities, streamlining electronic transfers and seamlessly connecting with Brazil’s PIX payment system. Additionally, they’ve empowered users to engage in transactions using Argentina’s Unique Virtual Code (CVU).
Galactic Holdings’ impressive repertoire includes TruBit Pro, an advanced cryptocurrency trading exchange, and Moneta (MMXN), a stablecoin meticulously pegged to the Mexican peso. Among their exceptional offerings is TruBit, a fully compliant cryptocurrency platform that provides users in Mexico, Argentina, and Brazil with convenient fiat on-and-off ramps and user-friendly payment solutions. Galactic Holdings has effectively bridged the gap between traditional fiat currencies and the exciting world of cryptocurrencies through a comprehensive suite of products. As a result, TruBit proudly boasts the distinction of having the most significant cryptocurrency trading volume in LATAM, with daily trading exceeding a staggering USD 150 million.
A new exciting chapter for TruBit
The most recent funding round, spearheaded by the prominent names of Galaxy Interactive and DragonFly, stands as a resounding testament not only to Galactic Holdings’ unwavering confidence in their capacity to deliver comprehensive crypto services and pioneering solutions in the dynamic landscape of LATAM but also to the trust they’ve meticulously cultivated among investors. This achievement proudly adds to the company’s roster of successful funding rounds, following closely on their noteworthy $10 million pre-Series A investment round not too long ago.
With the unswerving support of investors and valued partners, Galactic Holdings has cemented its resolve to fortify its presence in the vibrant Latin American market.
As we gaze into the future, it becomes abundantly clear that innovation and robust growth are on the horizon, underscoring Galactic Holdings’ unwavering commitment to leaving an indelible mark on the cryptocurrency and financial services landscape. This journey is characterized by vision and determination, where Galactic Holdings is poised to shape the future of finance and usher in a new era of possibilities.
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