Indonesian e-commerce giant buys local crypto exchange for $8 million
By acquiring PT Kripto Maksima Koin, the tech giant is pursuing the goal of becoming "a center for diversified financial management".
New
Indonesian tech company PT GoTo Gojek Tokopedia Tbk (GoTo) has purchased PT Kripto Maksima Koin, a local crypto exchange, in a bid to diversify its assets. The deal marks a turning point in the merging of mainstream and crypto in the world's fourth most populous country.
As reported by Reuters, the sum of the acquisition of 100% of the shares by the country's "largest technology company" amounted to 124.84 billion rupees ($8.38 million). The deal was finalized on August 25, according to Indonesian media.
GoTo has not revealed any specific plans for the further development of PT Kripto Maksima Koin, but in an official statement, its representatives explained an agreement as part of its efforts for "a diversified financial management center".< /p>
PT Kripto Maksima Koin is one of 25 crypto platforms licensed by the Indonesian Commodity Futures Regulatory Agency (BAPPEBTI). It received the license relatively recently, on January 28, 2022.
Earlier this year, GoTo, which was formed from a merger between a local e-commerce leader and an on-demand multi-service platform, led its initial public offering (IPO), raising 1 .1 billion dollars.< /p>
Related: Mastercard Partners with Crypto Gateway to Drive Financial Inclusion in Indonesia
According to Reuters data, in 2021, the total trading volume of crypto assets in Indonesia increased by more than 1,000% compared to 2020, reaching 859.4 trillion rupees ($57.7 billion) . About 4% of the country's population, or just under 11 million people, have invested in the crea...
By acquiring PT Kripto Maksima Koin, the tech giant is pursuing the goal of becoming "a center for diversified financial management".
New
Indonesian tech company PT GoTo Gojek Tokopedia Tbk (GoTo) has purchased PT Kripto Maksima Koin, a local crypto exchange, in a bid to diversify its assets. The deal marks a turning point in the merging of mainstream and crypto in the world's fourth most populous country.
As reported by Reuters, the sum of the acquisition of 100% of the shares by the country's "largest technology company" amounted to 124.84 billion rupees ($8.38 million). The deal was finalized on August 25, according to Indonesian media.
GoTo has not revealed any specific plans for the further development of PT Kripto Maksima Koin, but in an official statement, its representatives explained an agreement as part of its efforts for "a diversified financial management center".< /p>
PT Kripto Maksima Koin is one of 25 crypto platforms licensed by the Indonesian Commodity Futures Regulatory Agency (BAPPEBTI). It received the license relatively recently, on January 28, 2022.
Earlier this year, GoTo, which was formed from a merger between a local e-commerce leader and an on-demand multi-service platform, led its initial public offering (IPO), raising 1 .1 billion dollars.< /p>
Related: Mastercard Partners with Crypto Gateway to Drive Financial Inclusion in Indonesia
According to Reuters data, in 2021, the total trading volume of crypto assets in Indonesia increased by more than 1,000% compared to 2020, reaching 859.4 trillion rupees ($57.7 billion) . About 4% of the country's population, or just under 11 million people, have invested in the crea...
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