Thai venture fund SeaX Ventures raised $60m to invest in Blockchain, Web3
Thai venture fund SeaX Ventures has raised $60 million to invest in blockchain and Web3 technologies. This is a significant amount of money for a venture fund, and it underscores the growing interest in these technologies.
Blockchain is a distributed database that allows for secure, transparent and tamper-proof transactions. It has the potential to revolutionize the way the world does business, and many believe that it will have a major impact on the global economy.
Web3 is the next generation of the internet, which will be powered by blockchain technology. It will be a more decentralized and user-friendly internet, which will allow users to control their own data. SeaX Ventures is betting big on the future of blockchain.
How will the fund be utilised by SeaX Venture?
The fund will focus on investing in early-stage start-ups that are working on developing innovative applications of blockchain technology. SeaX Ventures is a part of the Sea Group, a leading technology company in Southeast Asia.
The group has a wide range of businesses, including e-commerce, digital payments, and online gaming. The decision to invest in blockchain and Web3 technologies was driven by the belief that these technologies have the potential to transform a wide range of industries.
Blockchain technology is already starting to disrupt the financial sector, and it has the potential to transform other industries as well.
The fund is backed by a number of prominent investors, including Sequoia Capital and the Thai government. The fund’s managing partner, Pongsak Prakitsen, has said that the goal is to invest in early-stage blockchain projects that have the potential to disrupt traditional industries.
Among the areas of interest for the fund are digital identity, payments, and supply chain management.
What is the status of Thailand on the Crypto Map?
When it comes to cryptocurrency, Thailand is definitely on the map. The country has been very supportive of Bitcoin and other digital currencies, and its government has even gone so far as to issue its own digital currency, the Central Bank Digital Currency (CBDC). Thailand is also home to a number of exchanges and businesses that are involved in the cryptocurrency space.
The status of Thailand on the crypto map is an interesting one. The country has been very supportive of blockchain technology and cryptocurrencies, but has taken a more cautious approach when it comes to regulating them.
This has led to a situation where there is a lot of innovation happening in the space, but it is still relatively early days in terms of adoption. One of the key factors driving the development of the crypto space in Thailand is the country’s strong focus on digital transformation.
The government has been investing heavily in initiatives to boost the country’s digital infrastructure and capabilities, and this has created a favourable environment for the growth of blockchain and crypto. Another key factor is the high level of interest from Thai businesses and entrepreneurs.
The Thai government has been very supportive of the cryptocurrency industry, and has even set up a dedicated task force to promote and regulate the sector. The Thai Securities and Exchange Commission (SEC) has been very proactive in regulating the cryptocurrency industry, and has even issued guidelines for Initial Coin Offerings (ICOs).