2024.11.9
Introducing the Stacks Asia Foundation: Deepening Key Relationships Across Asia For The Leading Bitcoin Layer 2
The organization will begin with a $15m allocation from private Stacks holders and a team of strategic advisors
[Wednesday, September 11th, 2024] — Today marks the official launch of the Stacks Asia Foundation, a strategic new contributor within the Stacks ecosystem. The foundation will spearhead the growth and development of the Stacks Ecosystem in Asia, a region that has long been integral to the success of the leading Bitcoin L2. Efforts of the non-profit will be bolstered by strategic partners from leading organizations in the market, including DeSpread, Spartan Group, and SNZ.
Asia is home to some of the world's most vibrant and influential markets. With the Stacks Asia Foundation, the Stacks ecosystem will be able to cultivate and nurture relationships with infrastructure providers, institutions, investors, developers, and thought leaders who are shaping the future of blockchain technology. The Stacks Asia Foundation is dedicated to fostering mutually beneficial relationships throughout key markets, including Korea, Hong Kong, Singapore, Japan, South East Asia, the UAE, and more in the future. Focuses will include strategic partnerships and programs that enable local builders, efforts to ensure liquidity and accessibility of crucial ecosystem assets, and dedicated support for the Bitcoin DeFi ecosystem.
The organization will begin with a $15m allocation granted from private Stacks holders for its regional operations, with further potential grants in the future. The Stacks Asia Foundation is a wholly independent organization from the existing US-based Stacks Foundation, but intends to collaborate in complementary areas.
Kyle Ellicott, a long-time contributor and leading figure in the Stacks Ecosystem, will lead the Stacks Asia Foundation in an interim capacity as it further builds its team. Kyle brings 15+ years of startup and VC experience and played a vital role as a Partner and Managing Director in building out the Stacks Accelerator & Ecosystem Fund (now the Bitcoin Frontier Fund) and raising the $165m ‘Bitcoin Odyssey’ pledge fund with key players, including OKX Ventures, Alumni Ventures Group and others. In addition to Kyle, the following leaders will play a key role in shaping the team from advisory positions, with additional advisors to be added:
The Stacks Asia Foundation will be oriented around 3 key pillars:
The Stacks Asia Foundation represents a significant expansion of an already strong regional presence. Asia has been a crucial market for Stacks from the beginning, with substantial participation in early token sales and a strong investor base. Asia has consistently been at the forefront of crypto innovation and adoption.
The region's markets are not just participants but major players shaping the future of the crypto economy. By establishing a dedicated team, the global Stacks community is doubling down on a commitment to these vital markets as it looks to advance the ways Bitcoin is utilized across Asia. As the world increasingly recognizes the potential of Bitcoin layers, Asia's importance in this space cannot be overstated.
Asia is home to some of the world's most vibrant and influential markets. With the Stacks Asia Foundation, the Stacks ecosystem will be able to cultivate and nurture relationships with infrastructure providers, institutions, investors, developers, and thought leaders who are shaping the future of blockchain technology. The Stacks Asia Foundation is dedicated to fostering mutually beneficial relationships throughout key markets, including Korea, Hong Kong, Singapore, Japan, South East Asia, the UAE, and more in the future. Focuses will include strategic partnerships and programs that enable local builders, efforts to ensure liquidity and accessibility of crucial ecosystem assets, and dedicated support for the Bitcoin DeFi ecosystem.
The organization will begin with a $15m allocation granted from private Stacks holders for its regional operations, with further potential grants in the future. The Stacks Asia Foundation is a wholly independent organization from the existing US-based Stacks Foundation, but intends to collaborate in complementary areas.
Kyle Ellicott, a long-time contributor and leading figure in the Stacks Ecosystem, will lead the Stacks Asia Foundation in an interim capacity as it further builds its team. Kyle brings 15+ years of startup and VC experience and played a vital role as a Partner and Managing Director in building out the Stacks Accelerator & Ecosystem Fund (now the Bitcoin Frontier Fund) and raising the $165m ‘Bitcoin Odyssey’ pledge fund with key players, including OKX Ventures, Alumni Ventures Group and others. In addition to Kyle, the following leaders will play a key role in shaping the team from advisory positions, with additional advisors to be added:
- GM Chung, Founder and CEO of DeSpread, a Korea-based, prominent Web3 market strategy consulting firm
- Melody He, Co-Founder & Partner of Spartan Group, the leading blockchain advisory firm in Asia
- Mitchell Cuevas, Executive Director at the Stacks Foundation
The Stacks Asia Foundation will be oriented around 3 key pillars:
- Relationships: Unlocking key integrations for the Stacks layer, building deep connections with institutions, and providing investor education.
- Markets: Strengthening access and liquidity of all key ecosystem assets through direct efforts and partnerships.
- Adoption: Driving TVL on the Stacks layer (BTC deployed in contracts on Stacks), regional awareness, and user growth by supporting key Stacks teams.
The Stacks Asia Foundation represents a significant expansion of an already strong regional presence. Asia has been a crucial market for Stacks from the beginning, with substantial participation in early token sales and a strong investor base. Asia has consistently been at the forefront of crypto innovation and adoption.
The region's markets are not just participants but major players shaping the future of the crypto economy. By establishing a dedicated team, the global Stacks community is doubling down on a commitment to these vital markets as it looks to advance the ways Bitcoin is utilized across Asia. As the world increasingly recognizes the potential of Bitcoin layers, Asia's importance in this space cannot be overstated.
"I'm excited to see Stacks making a full-scale entry into Asia. Asia is a region where deep-rooted history and diverse cultures coexist, and the world is striving to learn from its experiences and strengths. I hope that through this expansion, the Stacks and Bitcoin communities can engage more closely with the Asian region and bring about advanced cultural and technological outcomes.”
GM Chung
Founder and CEO of DeSpread
“At Spartan, we strongly believe that Asia will lead the consumer adoption of Web3 and drive significant growth in the BTC ecosystem. Stacks' expansion into the region, with the launch of the Stacks Asia Foundation, is perfectly positioned to capture this dual opportunity. As a long-term supporter since 2017, we believe this move aligns with our vision of Asia becoming the epicenter of Web3 innovation.”
Melody He
Co-Founder & Partner of Spartan Group
Please visit the Stacks Asia Foundation website for more information and follow @StacksAsiaOrg for updates as the Foundation continues to roll out initiatives, key partnerships, and new projects that will further establish Stacks as the premier Bitcoin layer in Asia.
Press inquiries: press@stacksasia.foundation
Press inquiries: press@stacksasia.foundation