How does Ninety Eight aim to grow after rebranding?

No longer simply a virtual wallet, Coin98 is moving towards a technology company and supporting other technology companies, specializing in supporting startups that are purely technological rather than financial.

Sharing with Thanh Nien , Le Thanh - founder of Coin98 Finance, said that the company's goal is to bring Silicon Valley to Vietnam. By combining investment experience and research, the company will know what the market needs and how to build features for the product. This is similar to what Thailand's GuildFi has been doing.

Le Thanh - founder of Coin98 Finance

Coin98 Finance co-founder and CEO Nguyen The Vinh said that the company cannot build the product alone, so the company sees building the infrastructure to attract more companies to participate will have many benefits. To respond, the company recently acquired TomoChian as an infrastructure, and at the same time plans to continue upgrading and perfecting the solution.

When asked about Coin98 having many useful products for builders but only being exploited in a few features by users, Mr. Thanh said that the company understands that difficulty and needs more time to learn before completing it. To create a different look compared to other competitors in the market such as Metamask, Trust Wallet or Coinbase Wallet, Coin98 builds a wallet cluster, where users can find a wallet when needed.

Mr. Le Thanh shared that Binance had repeatedly offered to buy Coin98, but the company did not agree because in his opinion, having someone other than Vietnamese holding decision-making power at Coin98 would not be able to maintain the plan to help Vietnamese people. Basically, the company wants to leave a foundation for the young generation of Vietnam, because if it were for profit, Coin98 would have stopped before deploying the token.

When asked about the relatively small number of startups receiving capital from the Vietnam Future Fund, Mr. Thanh said that it stems from the human factor when the skill level has not met the requirements of businesses following the orientation of "Vietnamese people building products, exporting to the whole world", so the problem of cultivating people takes a lot of time.

Looking at the potential of the Vietnamese blockchain market, Mr. Le Thanh believes that what is being done now is catching up with countries like the US. According to him, in 5-10 years, the first generation will create a foundation of knowledge, thinking, and relationships. All we do now is pass it on to the next generation, and we must try harder to catch up with the world. This requires a lot of supporting industries such as AI, Big Data, etc. It is a big game that requires a lot of resources, typically Microsoft or Google have poured tens of billions of dollars into AI startups over the past decade.

With the general population in Asia and Southeast Asia using the internet extremely large, creating an advantage for industries that take advantage of the internet and mobile devices. This is the springboard for the blockchain industry, making it one of the rare industries that Southeast Asia is developing to reach the whole world.

Coin98 Finance CEO Nguyen The Vinh shared at the rebranding event to Ninety Eight with the goal of helping technology startups.

Blockchain has been globalized from the beginning, helping technology startups access the capital market more easily. In the traditional market in the region, we do not see many projects raising hundreds of millions of USD, which is easy to see in blockchain. From that source of capital, blockchain companies can expand infrastructure and labor markets, indirectly contributing to the country's GDP. Mr. Thanh admitted that blockchain investment is a good direction to export high-quality labor, because in addition to exporting blockchain products to the world, we still have developers shaping new trends for the entire industry.

After announcing the name change, Coin98 also announced a $25 million fund for blockchain startups to promote blockchain startup culture in Vietnam and Southeast Asia. According to Mr. Le Thanh, after being "born, raised and developed products" to have the conditions as they are today, Ninety Eight wants to support young talents in the region to be able to develop blockchain businesses, accompanying them from the starting point.

Source link: https://thanhnien.vn/ninety-eight-dat-muc-tieu-phat-trien-ra-sao-sau-khi-doi-ten-thuong-hieu-185231110234324515.htm