The parent company of TruBit, Galactic Holdings, successfully completed a Series A investment round, raising a total of USD$6.25 million. This round was led by Galaxy Interactive and DragonFly, with the participation of SHK.
This achievement not only strengthens the company’s position as a prominent player in the world of cryptocurrencies in Latin America but also paves the way for accelerated expansion in the Latin American market and the development of TruBit.
Galactic Holdings stands out in the cryptocurrency industry by offering a variety of products that seamlessly connect the traditional financial sector with digital currencies.
“I am very grateful for the unwavering support of our investors, and with this, we reaffirm our commitment to further expand our presence in more countries in Latin America, with the goal of making cryptocurrency services accessible to everyone for their daily needs, in the simplest and most convenient way,” said Maggie Wu, CEO and co-founder of TruBit.
Among its offerings is TruBit, a cryptocurrency platform that facilitates the conversion of fiat currencies and is used as a payment solution in Mexico, Argentina, and Brazil.
In addition, Galactic Holdings operates TruBit Pro, an advanced exchange, and Moneta (MMXN), a stablecoin linked to the Mexican peso.
Since 2020, Galactic Holdings has worked closely with authorities in Latin America to comply with regulations, prioritizing the security and reliability of users.
This has resulted in three significant achievements, such as integration with financial authorities in Mexico to facilitate electronic transfers through the Banco Central de Brasil’s PIX payment system, and enabling transfers through the Unique Virtual Code (CVU) in Argentina.
As a result, TruBit has become one of the leading cryptocurrency exchange platforms in Latin America, with a daily trading volume exceeding USD$150 million.
The recent financing round, led by Galaxy Interactive and DragonFly, not only demonstrates Galactic Holdings’ confidence in its ability to offer comprehensive crypto asset services and innovative solutions in Latin America but also reflects the trust gained from investors.
This is the second successful financing round the company has achieved this year, following a pre-A investment of USD$10 million.
With the support of investors and partners, Galactic Holdings is committed to expanding its presence in Latin America, strengthening its teams, and attracting talent in Mexico, Argentina, Brazil, Colombia, and other countries to effectively serve both retail and institutional users.
Furthermore, the company is actively pursuing the expansion of the TruBit ecosystem, introducing OTC services and other cryptographic solutions designed to address the needs of retail and institutional users globally, including local and cross-border payments and remittances.
The future looks promising in terms of innovation and growth as Galactic Holdings strives to make a lasting mark in the world of cryptocurrencies and financial services.