Stacks launches Asia Foundation, with initial grant of $15 million

According to official news, Stacks established the Asia Foundation yesterday. The organization will first receive a $15 million grant from private Stacks holders for its regional operations, and may receive further grants in the future. The Stacks Asia Foundation is an organization completely independent of the existing US Stacks Foundation, and plans to cooperate in complementary areas. The Stacks Asia Foundation is committed to building mutually beneficial relationships in major markets such as South Korea, Hong Kong, Singapore, Japan, Southeast Asia, and the UAE. The focus will include strategic partnerships and programs to support local builders, efforts to ensure liquidity and accessibility of key ecosystem assets, and dedicated support for the Bitcoin DeFi ecosystem.