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Founded in 2014, digital assets wallet service Coinhako aims to make buying, selling and trading of cryptocurrencies easy and secure.

Published 2021-03-29 11:37:57
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Almost a decade ago, the concept of cryptocurrency was really new and no one really understood it, especially in Singapore.

While there were plenty of media coverage on bitcoin back then, what people mostly took away from it was the “Silk Road incident” and that its “prices are rocketing”. Beyond that, people didn’t fathom how it’s being used and what’s the underlying technology behind it.

While the rest of Singapore was in a cloud of confusion about cryptocurrency, Yusho Liu — the co-founder and CEO of Coinhako — took a different stance and saw it as a burgeoning business opportunity that was worth tapping on.

After all, all startup ideas begin with a problem, he mused. Together with his army buddy Gerry Eng, the two started dabbling in bitcoins but the process to buy one was arduous back then.

“There were not many places you can buy from. You had to send papers to like foreign brokers and you have to find overseas exchanges, so I think there could be an opportunity for us. That sort of sparked the whole idea. One month later, we incorporated a company and that was day one of Coin Supermart.”

 
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