8 months ago
Blockchain-based services are attracting an increasing number of users across Asia. Here’s a list blockchain startups in Asia that are fueling blockchain and cryptocurrency adoption in the region.
Among blockchain startups in Asia, OmiseGo is one of the most ambitious. From paying for burgers at a fast-food joint to shopping online, OmiseGo is on a mission to disrupt every retail and payment industry in the world. Headed by the Thailand-based company Omise, the blockchain platform aims to become the Paypal of cryptocurrency. Its list of advisors includes Ethereum co-founders Vitalik Buterin and Gavin Wood. It has been endorsed by the Thai Ministry of Finance and Bank of Thailand.
One of the leading blockchain startups in Asia and specifically in the Philippines, Coin.ph provides mobile wallets and services such as remittances, air-time, bill payments and online shopping at over 100,000 merchants who accept digital currencies. The company was founded in 2014 by Silicon Valley entrepreneur Ron Hose. Coin.ph is among the few companies worldwide that have received authorization from a state monetary body in their respective locations. The authority in this case is the Bangko Sentral ng Pilipinas.
This company is becoming a bridge between businesses, users and digital assets. The Singapore-based firm offers a debit card as an instant converter of multiple digital currencies into fiat money, which also facilitates spending of blockchain assets in the real world and supports assets across multiple blockchains
This ambitious stablecoin project from South Korea provides payment solutions to e-commerce firms across Korea and other parts of Asia. Terra already partners with 15 e-commerce services, which boast a cumulative base of 40 million customers. The stellar list of investors backing this project includes four top cryptocurrency exchanges: Binance Labs, OKEx, Huobi Capital and Dunamu. Globally leading blockchain venture funds like Polychain Capital, China’s FBG Capital, Hashed, 1kx, Kenetic Capital and Arrington XRP complete the list.
With the goal of developing an overall system of accepting cryptocurrency for merchants, Pundi X has created a point-of-sale (PoS) hardware solution with an RFID chip called XPOS to enables crypto payments. The company also issues a cryptocurrency, abbreviated as NPXS, and a card similar to a credit card to store cryptos. The project originated in Indonesia and has plans to expand in Thailand, Singapore, Malaysia, Japan and the Americas.
The decentralized autonomous organization (DAO) of DigiX, DigixDAO, is creating a cryptocurrency backed by gold bars. DGD is the native Ethereum-based ERC-20 cryptocurrency token of its network. The project started in Singapore in December 2014. DigiX is fueling tokenization and blockchain adoption together with its DeFi and escrow services.
An Ethereum-based protocol aiming to bring security and liquidity in the DeFi ecosystem, Kyber Network is equipped with a unique combination of a reserve warehouse and on-chain solutions. The project has an extensive list of partners that includes Request Network, Wax, Toshi, Gifto, ICON, Wanchain and MyEtherWallet. Kyber Network started in Singapore in 2017 and raised US$ 52m in its ICO.
One of the first exchanges any person hears about when entering the world of cryptocurrencies. Binance enables users to trade with 100+ cryptos. Moving from China to Japan and then to Taiwan, before settling in the crypto haven of Malta, Binance is the vagabond of the blockchain ecosystem. Currently, Binance is encouraging blockchain and cryptocurrency adoption with a spectrum of products like centralized and decentralized exchanges, launchpad, token, academy, labs and a research division.
This Chinese company is helping users send, receive and store digital assets locally in their Smartphones. It has partnered with decentralized exchanges like Kyber Network and 0x. Established in May 2016, imToken was one of the first cryptocurrency wallet apps to support the Ethereum blockchain. The free software has attracted more than four million users from approximately 200 countries and handled US$ 35bn in pass-through transactions.
The list could go on and on. But perhaps this brief overview offers a glimpse of the breathtaking dynamics of blockchain startups in Asia. Let’s stay tuned.
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