Binance, the world’s largest cryptocurrency exchange by volume has partnered with PT Indosat Tbk to launch a new platform in Indonesia. The move will help Binance expand its reach and offer more opportunities for customers. In addition, this partnership will allow Indonesian traders’ access to one of the first fully regulated exchanges in Southeast Asia that also covers fiat trading pairs through local bank transfers.
The world’s leading cryptocurrency trading platform Binance is partnering with Indonesia’s largest telecom company to create a new Indonesian digital asset exchange. The partnership has been in the works for months, and will be officially unveiled later this month by CEO Changpeng Zhao at Blockchain Asia Summit 2018 in Shanghai.
Binance is partnering with Indonesia’s largest telecom and preparing to launch a new exchange. The partnership will allow for Binance to be the first crypto exchange in South East Asia.
Binance has announced a partnership with a consortium headed by MDI Ventures, an investment arm of Telkom Indonesia, to build a new cryptocurrency exchange in the world’s fourth most populated nation.
MDI Ventures is Indonesia’s biggest technology investment business, with a worldwide portfolio worth more than $830 million with investments in a variety of sectors.
Binance is a company that provides asset management infrastructure.
Changpeng Zhao, the founder and CEO of Binance, stated:
“At Binance, our goal is to build the blockchain and cryptocurrency ecosystem throughout the world, and our project in Indonesia is a big step in that regard.”
Binance will use asset management infrastructure and technology to assist the development of the new crypto trading platform, according to the release.
He added:
“With its rapid technological adoption and high economic potential, Indonesia has the potential to become one of Southeast Asia’s main hubs for the blockchain and crypto ecosystem.”
The global blockchain ecosystem is expanding.
Binance’s larger aim to grow the global blockchain ecosystem includes the launch of the new exchange.
The launch of the cooperation comes on the heels of Binance’s recent announcement of its $100 million “Objective Moon” effort to assist the growth of the French and European blockchain and cryptocurrency ecosystems.
Furthermore, Binance Asia Services recently announced a strategic investment in Hg Exchange, a Singapore-based cryptocurrency exchange (HGX).
MDI’s CEO, Donald Wihardja, stated:
“Cryptocurrencies, crypto assets, and the underlying technology, blockchain, will undoubtedly play a significant role in future financial and digital infrastructures. MDI is extremely happy to be a part of this journey as Telkom’s technology investment arm and technology scout.”
The consortium, which has access to more than 170 million users, was not named in the news statement.
He added:
“We’re looking forward to developing with Binance and our investment partners, as well as connecting possibilities and technologies to Telkom to assist strengthen Indonesia’s digital infrastructure capabilities.”
Newsletter
The most relevant daily news in the worlds of crypto, DeFi, NFTs, and more are summarized here.
Gain a competitive advantage in the cryptoasset market.
As a premium Edge member, you’ll get additional crypto insights and context in every story.
Analyses of the whole chain
Snapshots of prices
a little more context
For just $19 a month, you can become a member right now. Examine all of the advantages.
