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Indonesia-licensed crypto asset platform Pintu raises $113M in Series B

Indonesian crypto asset platform Pintu introduced the closure of a $113 million Sequence B funding spherical participated by 4 outstanding buyers Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group. 

Licensed by the Commodity Futures Buying and selling Regulatory Company (Bappebti) underneath the Ministry of Commerce, Pintu caters to Indonesian crypto buyers dealing in common cryptocurrencies, together with Bitcoin (BTC) and Ethereum (ETH).

Bappepti beforehand highlighted the doubling within the variety of Indonesian crypto buyers in 2021-2022, to which Jeth Soetoyo, Founder and CEO of Pintu, mentioned:

“We imagine that crypto adoption in Indonesia is barely in its starting phases, and educating customers on the basics is crucial to making sure this development continues in a wholesome method.”

The most recent $113 million fund injection will probably be redirected to scale the platform’s present choices, comparable to introducing new options and assist for blockchains. The corporate additionally plans so as to add extra tokens and launch new merchandise to solidify its place in Indonesia additional.

In simply two years since its inception, Pintu launched quite a few options on its cellular software that enable customers to earn and stake their crypto holdings. As well as, part of the Sequence B funding will probably be devoted to Pintu Academy, an academic program for crypto merchants that goals to unfold consciousness concerning the alternatives and dangers of crypto investing.

Associated: Celebrity tokens: Signs of rising crypto adoption in Indonesia

A current Cointelegraph evaluation from April 3 identified that crypto investments in Indonesia noticed appreciable development between 2020-2022, with 4% of the nation’s inhabitants having invested in crypto.

Nonetheless, celeb involvement in crypto seemingly fueled the adoption spree amongst Indonesian buyers. Along with the participation of common stars comparable to Joe Taslim, Jessica Iskandar and Shandy Aulia, the Indonesian celeb crypto scene witnessed quite a few nonfungible token (NFT) launches.