GoTo company spent 8 million dollars to become the financial center of Indonesia. Purchase of local exchange by GoTo It will expand the adoption of crypto in Indonesia.
GoTo Technology Inc To diversify his assets, he bought a local cryptocurrency exchange. This transaction is considered a turning point in the acceptance of cryptocurrencies in the fourth most populous country in the world. The Indonesian tech giant aims to become a money management center in the country by acquiring PT Krupto Maksima Koin.
Read more: The future of digital currencies in 2022
Purchase of local exchange by GoTo
According to Reuters, the total stake of Indonesia’s largest technology company reaches 124.84 billion rupiah ($8.38 million). According to Indonesian media, Buy local exchange by GoTo It was finalized on Thursday.
GoTo did not disclose details of PT Kripto Maksima Koin’s development plan. In an official statement, the company announced its efforts to become Indonesia’s money management center.
PT Kripto Maksima Koin It is one of the 25 crypto platforms licensed by the Indonesian Commodity Futures Regulatory Agency (BAPPEBTI). PT Kripto received its license on January 28, 2022. GoTo is the result of the integration of Indonesia’s e-commerce leader and a multi-service platform. The company raised $1.1 billion after its initial public offering (IPO).
According to Reuters data in 2021, Total transaction volume of crypto assets in Indonesia Compared to 2020, it has increased by more than 1000%. Currently, the total volume of crypto transactions in Indonesia is 859.4 trillion rupiah ($57.7 billion). About 4% of Indonesia’s population, which is less than 11 million people, has invested in digital currencies.
In recent years, Indonesia has seen a growing wave of celebrity tokens and non-fungible NFT projects. Indonesian regulators are likely in the near future Certain rules for cryptocurrencies will establish BAPPEBTI has repeatedly warned the public about the dangers of investing in unregistered digital assets.
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Source: cointelegraph