Tetrix Mid-Year 2023: Highlights and Outlook

Learn the key developments, challenges of Tetrix in the first half of 2023, as well as their and future plans in this exclusive mid-year review.

Mid Year Recap - Emman Navalan - Tetrix

As 2023 reaches its midpoint, we pause to reflect on the eventful developments within #CryptoPH. The industry, rebounding stronger from 2022 and witnessing a fading bear market, has had a dynamic first half.

Today, we bring you an exclusive mid-year review from blockchain and software company — Tetrix. Through Emman Navalan, CEO of Tetrix, the company shared insightful details about their significant wins, challenges, and future plans. 

Tetrix Mid-Year Review: Key Wins in 2023

What key partnerships, product launches, or strategic decisions would you consider as your organization’s significant wins in the first half of 2023? 

We have a lot of partnerships that are focused on Pitaka. We are in the process of developing certain products and services that we are going to offer to them under the license of a recent partner that we cannot disclose yet. This will span throughout existing financial and non-financial industries. A notable aspect of it includes the integration of the Tetrix app for the verification of documents.

(Read more: Pinoy-Developed “Pitaka” Wallet Now Allows Users to Buy Crypto Using GCash, Grab, Maya)

Addressing Challenges: Tetrix Adaptive Strategies

What were the primary challenges your organization faced during the first half of 2023, and how did you address them?

In any given market, there are ups and downs, specifically for market cycles. Since it’s a bear market and people don’t really see the need for blockchain technology because they usually connect this to currency, it was overshadowed by AI.

With that being said, we really focus on developing and improving our software. In fact, we primarily focused on WalletConnect v2.0, which is the new wallet connect version we launched last year. We had a rough time having different dApps adapt to WalletConnect v2.0. But recently, this month, the WalletConnect v1.0 is no longer available, and everything has transitioned to WalletConnect v2.0. We are witnessing the shift now, and people are gradually adopting Pitaka.

Photo for the Article - Tetrix Mid-Year 2023: Highlights and Outlook
‘Pitaka’ Wallet

Improvements and Metrics: Comparing 2023 with Previous Years

Is there a specific metric that has significantly improved in the first half of 2023 compared to the previous year?

Since we are a wallet and usually DeFi wallets are used for storing cryptocurrencies and NFTs, the users plateaued a bit during the bear market. However, with the recent release of WalletConnect v2.0, we have observed a steady increase in both downloads and active users who are exploring the crypto space.

This resurgence can be attributed not only to the new wallet version but also to factors such as the BlackRock ETF, which has piqued people’s interest in cryptocurrencies. Right now, we are continuously improving in maximizing the opportunity and we are excited to announce that we will be adding Bitcoin as one of the supported cryptocurrencies on our platform.

(Read more: Filipino-led Tetrix Network Launches ‘Pitaka’ Crypto Wallet)

Future Trends and Technologies: Tetrix Future Outlook

Which emerging trends or technologies in the crypto space are you most excited about or planning to incorporate into your future strategies and why?

It lies in the transactions, which ultimately circle back to DeFi. It’s a cycle that has been emphasized by many industry leaders, that centralized and decentralized finance can co-exist. Given our primary focus on DeFi, we are actively engaged in forging partnerships to make the CeDeFi ecosystem happen. Aside from that, we are also seeing steady growth in P2P transactions not just for cryptocurrencies alone, but transactions that are happening online.

Everything is being sold by a person or individual to a particular person or individual, which is again a peer-to-peer transaction. So we wanted to maximize on that and wanted to provide them another option rather, to securely transact using different methods of payment or settlement.

(Read more: Kandama Partners with Tetrix to produce NFTs as Proof-of-Ownership)

Goals and Plans for the Second Half of 2023

What are your company’s primary goals and plans for the second half of 2023?

Our primary plan for the last quarter is to deploy. We will slowly deploy and showcase different products that are aligned toward gaining more audiences. It’s too early to say, but we’re targeting different groups of people who could leverage the technology, specifically for financial transactions and data sharing.

For Further Reading

Website: https://tetrix.xyz/
Facebook: https://www.facebook.com/TetrixNetwork
Twitter: https://twitter.com/TetrixNetwork
Tetrix Community Telegram: https://t.me/tetrixnetwork

This article is published on BitPinas: Tetrix Mid-Year 2023: Highlights and Outlook

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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