GoTo buys PT Kripto Maksima Koin for $8.5 million.
The Indonesian tech provider GoTo has bought 100% shares of the cryptocurrency exchange PT Kripto Maksima Koin for almost $8.5 million.
This acquisition is a big deal for the cryptocurrency industry in Indonesia, as it signals the country's interest in blockchain technology and digital assets. With GoTo's backing, PT Kripto Maksima Koin is well-positioned to become a leading player in the space. This is a positive development for the adoption of cryptocurrency in Indonesia and could lead to more mainstream use of digital assets in the country.
The digital asset sector has become quite popular among Indonesians, despite the negative stance displayed by the country’s central bank and some local Islamic organizations. According to a Gemini survey, the nation is the global leader in terms of crypto adoption, sharing first place with Brazil. This indicates that there is strong demand for cryptocurrencies in Indonesia, and that the country is at the forefront of digital asset innovation.
GoTo Enters the Crypto Universe
As the world's largest economy, it's no surprise that Indonesia is also home to one of the biggest tech firms – GoTo. Recently, GoTo made headlines by purchasing 100% of the shares of cryptocurrency exchange PT Kripto Maksima Koin for nearly $8.5 million. This move signals a growing interest in cryptocurrencies in Indonesia and could pave the way for more mainstream adoption of digital currencies in the country.
GoTo's investment in blockchain technology reflects the company's belief that this area will be increasingly important in the financial sector. However, GoTo did not provide any additional details about its plans for blockchain. This suggests that the company is still in the early stages of exploring how it can use this technology.
As one of the 25 cryptocurrency platforms to obtain a license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), PT Kripto Maksima Koin is well-positioned to provide innovative and reliable services to its users. With a strong commitment to compliance and a dedication to providing a secure and user-friendly experience, PT Kripto Maksima Koin is poised to
It is clear that the interest in cryptocurrencies is growing in Indonesia. This is evidenced by the recent announcement of a collaboration between the world's largest crypto exchange, Binance, and the country's richest family, the Hartono brothers. The two parties have a shared goal of establishing a digital asset venture in Indonesia. This is a positive development that could lead to greater adoption and use of cryptocurrencies in the country.
It is great to see Binance partnering with MDI Ventures in Indonesia. This is a strong signal that Binance is serious about growing its presence in the country. With the backing of Telkom Indonesia, the largest telecommunication provider in the country, this partnership is sure to be a success. We can expect great things from Binance in Indonesia in the future.
“We are thrilled to name MDI as our latest partner in the region. With their depth of experience in the market, we are confident that we will deliver leading products for users locally,” Binance’s CEO Changpeng Zhao said at the time.
Crypto Adoption Rate on the Rise, New Record Set
The study found that 41% of people in Indonesia and Brazil had invested in cryptocurrencies, making them the leaders in terms of adoption. The study highlights the potential for further growth in these markets as more people become aware of and interested in cryptocurrencies.
It is encouraging to see that the cryptocurrency industry is thriving in Indonesia despite the hostile stance that some Islamic entities have taken towards it. Last November, the National Ulema Council (MUI) said that the use of cryptocurrencies should be banned, citing Shariya law. The organization's leader, Asrorun Niam Soleh, claimed that bitcoin and other altcoins are riddled with "uncertainty, wagering, and harm," and that is why individuals should stay away from them. However, it is clear that there is a strong demand for cryptocurrencies in Indonesia, and the industry is continuing to grow despite the negative comments from the MUI. This is a positive sign for the future of the cryptocurrency industry in Indonesia.
At the beginning of 2022, the Tarjih Council and the Central Executive Tajdid of Muhammadiyah issued a similar warning, deeming cryptocurrencies as "haram" (or forbidden by God). This is a clear vision of the future of cryptocurrencies in Indonesia.
The Bank of Indonesia is against digital assets, claiming that they harm the country's financial network. The institution has vowed to launch a central bank digital currency (CBDC) in order to combat these assets. However, many remain skeptical of the efficacy of this measure.
The post Indonesia Tech Leader GoTo Acquires a Crypto Platform for $8.4 Million: Report appeared first on CryptoPotato. This is great news for the crypto industry as it shows that even traditional businesses are starting to see the potential of blockchain technology and are willing to invest in it. With GoTo's backing,