The great cryptocurrency exchange Binance has partnered with MDI Ventures, the venture capital arm of PT Telkom Indonesia, to establish a crypto exchange platform..
According to a joint announcement made Wednesday, The deal will also seek to expand blockchain adoption across Indonesia, where some 240 million people live..
To help the development of the new exchange platform, Binance to provide asset management infrastructure and technology. The agreement will also seek to increase the application of blockchain technology in Indonesia more widely.
The new partnership allows Binance to increase its operations in a nation where it already has an investment in the cryptocurrency trading platform Tokocrypto.. Binance CEO and founder Changpeng Zhao said:
“Our ambition at Binance is to grow the cryptocurrency and blockchain ecosystem globally, and this initiative in Indonesia is a significant step in that direction. With rapid adoption of the technology and strong economic potential, Indonesia could become one of the main centers of the blockchain and cryptocurrency ecosystem in Southeast Asia. “
MDI Ventures is a leading Indonesian technology investment firm, with a global portfolio of more than USD 830 million in various industries.. The statement did not reveal the identity of any other companies involved in the MDI-led consortium.
Binance, which faced significant regulatory restrictions throughout the second and third quarters of 2021, now aims to expand its presence in Asia.. The Singapore affiliate of cryptocurrency trading giant Binance recently acquired an 18% stake in Hg Exchange, a local private equity exchange.
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