Dapp Pocket product acquired by Singaporean venture capital, will launch Southeast Asian exchange Coinomo

Coinomo focuses on cryptocurrency exchanges and investment product portfolios for consumers in Southeast Asia. Through the acquisition of Dapp Pocket's two product lines: the decentralized electronic wallet Dapp Pocket and the innovative yield aggregator Cappuu, users can invest in DeFi strategies and exchange the US dollar stablecoin USDC through a partnership with global stablecoin issuer Circle.

Turn Capital, a Singaporean venture capital firm founded by Pan Jie Xian, co-founder of 17Live, announced the acquisition of two products from the Taiwanese blockchain company Dapp Pocket, founded by Anderson Chen: Dapp Pocket and Cappuu, following their earlier joint acquisition of the Taiwanese podcast platform SoundOn.

This acquisition was led by Evie Zhang, a new partner at Turn Capital. These two products will be integrated into the new Coinomo cryptocurrency trading platform, serving as the gateway for new users and mainstream audiences in Southeast Asia to enter the world of virtual currencies.

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Dapp Pocket has two product lines: the Dapp Pocket electronic wallet based on Dapp and DeFi development, and the Cappuu yield aggregator designed for general users, allowing easy conversion to the US dollar stablecoin USDC via credit card payments. While Cappuu is still in the beta stage, Dapp Pocket's products have already attracted over 140,000 users, creating a strong investment incentive!

Dapp Pocket Founder: Turn Capital's Experience in Southeast Asia Will Make Us Stronger

The founder of Dapp Pocket, Anderson Chen, at the young age of 29, began researching blockchain technology at the National Taiwan University's Institute of Information Engineering six years ago. In 2018, he co-founded Dapp Pocket with his classmates and within three years, the startup was acquired. Along the way, they received support from accelerators such as AppWorks, TSS Taiwan Startup Stadium, NTU Garage, and the Ministry of Science and Technology in Taiwan.

Anderson Chen stated:

The initial success of Cappuu has convinced us that the time for cryptocurrency and DeFi to go mainstream has arrived.

He mentioned, "A month ago, in order to accelerate our growth, I started fundraising. Unexpectedly, Joseph and Evie approached me, and after a discussion, proposed collaboration. After careful consideration, I believe that with Joseph and Turn Capital's wealth of successful advice and resources in Southeast Asia, we can improve our product and serve a wider user base. I thank my team, early investors, and all partners for making this happen at lightning speed. For us, this is just the beginning."

Turn Capital partner, Eric Chang, also commented: "We can leverage Anderson's product and expertise to take a quantum leap in the Southeast Asian retail exchange market! Our goal is to create a crypto exchange that is accessible to 100% of the qualified internet population in Southeast Asia. We are very excited to work closely with Dapp Pocket's team."

Turn Capital and Dapp Pocket Collaborative Exchange to Launch in June

Turn Capital will collaborate with Anderson Chen to establish a new company, Coinomo, and work closely with the Dapp Pocket team to develop the new Coinomo and OMO Finance platforms based on Cappuu, actively promoting them in the Southeast Asian market. The new platform is set to launch in June 2021, and Dapp Pocket's services will remain unaffected.