Hosted by Allspark Research, the inaugural stop of “Proof of Connect – The KOL Tour 2025” was successfully held in Bangkok in 2025, focusing on collaboration and innovation within the Web3 ecosystem. As a co-sponsor, UPCX, through a keynote speech by Chief Marketing Officer Koki Sato, shared its vision, technical potential, and early achievements in building a payment system bridging traditional finance (Web2) and blockchain (Web3). The presentation sparked widespread discussion among attending KOLs, project teams, and Web3 builders, reflecting Southeast Asia’s strong interest in novel payment solutions and providing UPCX with an inspiring starting point for regional exploration.
Event Overview: Building Bridges for Ideas and Collaboration
UPCX not only provided sponsorship but also facilitated thought-provoking exchanges and collaboration opportunities through carefully designed sessions. The event featured keynote speeches, interactive discussions, and networking sessions, creating a communication bridge for participants. It attracted approximately 50 Thai KOLs and over 30 Web3 practitioners, ranging from startups to established projects. While modest in scale, the event’s precise focus and high interactivity allowed UPCX to gain deep insights into local market preferences and pain points.
In his speech, Koki Sato outlined UPCX’s core philosophy: to build a fast, secure payment ecosystem through hardware and software wallets, POS applications, and cross-border transfers, making cryptocurrencies more seamless in everyday scenarios like dining, hospitality, and retail. He emphasized, “Our goal is to make payments more efficient through technological innovation, but this requires collaboration with existing financial systems, not mere disruption.” This pragmatic and cautious tone resonated strongly in Thailand, a market balancing openness with regulatory considerations.
The networking sessions further highlighted the value of community connection. Through group discussions and informal conversations, participants explored potential collaborations, providing UPCX with valuable feedback for its regional strategy. The event’s interactivity not only fostered idea exchange but also laid the groundwork for future partnerships.
UPCX Technical Highlights: Bridging Web2 and Web3
UPCX’s technical architecture was a focal point of discussion. Its Layer 1 blockchain boasts over 100,000 transactions per second (TPS), surpassing the average capacity of traditional credit card networks (around 50,000 TPS), thanks to an efficient consensus mechanism and modular design. The platform supports multiple asset types, including User-Issued Assets (UIA), Non-Fungible Assets (NFA), and Market-Pegged Assets (stablecoins or MPA), enabling cross-asset settlements via a unified wallet.
Smart contracts are another standout feature. Unlike many blockchains focused solely on simple transactions, UPCX’s smart contracts support complex financial protocols, such as automated payments, recurring settlements, and asset custody, applicable to retail, supply chain finance, cross-border e-commerce, and more. Its POS application is already compatible with various offline scenarios, theoretically enabling small and medium-sized merchants to adopt crypto payments quickly, showcasing its practical potential.
However, UPCX’s positioning is not without debate. In the fiercely competitive global Layer 1 blockchain landscape, its high TPS claims require real-world validation. Additionally, the Web2-Web3 “bridge” concept must balance user experience, regulatory compliance, and decentralization principles. The UPCX team acknowledges this, with public materials emphasizing “incremental innovation” over radical upheaval.
Southeast Asia Strategy: Opportunities and Challenges
Thailand’s blockchain progress provides fertile ground for UPCX. According to 2024 Statista data, about 21% of Thais aged 16-64 hold cryptocurrencies, above the global average of 15%. In recent years, the government has encouraged blockchain adoption in finance, logistics, and beyond through regulatory sandboxes, tax incentives, and relaxed digital asset investment restrictions. For instance, in 2021, the Thai Securities and Exchange Commission (SEC) approved the first crypto exchange licenses, and in 2023, it further eased restrictions on digital asset investments.
Traditional financial institutions are also accelerating their involvement. In 2021, Siam Commercial Bank (SCB), one of Thailand’s largest banks, acquired a 51% stake in crypto exchange Bitkub for approximately $536 million, signaling a trend of blending traditional and decentralized finance. This backdrop aligns with UPCX’s vision of connecting the two worlds. However, challenges remain: regulatory uncertainties, the need for user education, and regional infrastructure disparities demand caution and flexibility from UPCX.
The Bangkok event offered a critical window into UPCX’s global strategy. Southeast Asia, with its 680 million population, over 70% internet penetration, and tech-savvy youth, is a clear priority. Per Chainalysis’s 2024 report, the region’s crypto transaction volume grew by about 120% over the past two years, with Thailand, Vietnam, and the Philippines particularly active.
UPCX’s next steps reflect a blend of ambition and pragmatism:
– Deepening Regional Ties: Building direct connections with Thai KOLs to understand local preferences and initiate content promotion collaborations.
– Exploring Partnerships: Seeking regional partners to pave the way for more events and collaborations.
– Expanding Market Reach: Collaborating with influencers to boost brand visibility and build a broader regional ecosystem.
Compliance is a cornerstone of UPCX’s strategy. In Japan, UPCX listed on the BitTrade exchange in 2024, gaining experience in a tightly regulated market. Southeast Asia’s diverse regulatory landscape—from the Philippines’ leniency to Singapore’s rigor—requires tailored strategies to balance compliance and growth.
Outlook: A Synergy of Technology and Ecosystem
UPCX’s debut in Bangkok showcased its technical potential while highlighting the complexities of its global journey. High TPS, multi-asset support, and Web2-Web3 integration have earned it attention, but blockchain history shows that technical strengths must align with market needs, user habits, and ecosystem synergy to achieve lasting impact.
Thailand’s enthusiasm provided UPCX a stage to test its assumptions, but its ability to stand out in a competitive field hinges on execution and adaptability. As Koki Sato hinted during the event, the future of payments may lie not in replacing existing systems but in complementing them with greater efficiency and fairness. UPCX’s story is just beginning, and its global performance merits continued attention.
More about UPCX:
UPCX is a blockchain-based open-source payment platform that aims to provide secure, transparent, and compliant financial services to global users. It supports fast payments, smart contracts, cross-asset transactions, user-issued assets (UIA), non-fungible tokens (NFA), and stablecoins. Moreover, it offers a decentralized exchange (DEX), APIs, and SDKs, allows customized payment solutions, and integrates POS applications and hardware wallets for enhanced security, building a one-stop financial ecosystem.
UPCX Whitepaper 1.0
https://upcx.io/zh-CN/whitepaper/
UPCX Linktree
