Indonesian crypto asset platform Pintu introduced the closure of a $113 million Series B funding spherical participated by 4 outstanding buyers Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group.
Licensed by the Commodity Futures Trading Regulatory Agency (Bappebti) beneath the Ministry of Trade, Pintu caters to Indonesian crypto buyers dealing in well-liked 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, stated:
“We believe that crypto adoption in Indonesia is only in its beginning stages, and educating users on the fundamentals is critical to ensuring this growth continues in a healthy way.”
The newest $113 million fund injection will likely be redirected to scale the platform’s present choices, resembling introducing new options and assist for blockchains. The firm 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 cell utility that permit customers to earn and stake their crypto holdings. In addition, part of the Series B funding will likely be devoted to Pintu Academy, an academic program for crypto merchants that goals to unfold consciousness concerning the alternatives and dangers of crypto investing.
Related: Celebrity tokens: Signs of rising crypto adoption in Indonesia
A current Cointelegraph evaluation from April 3 identified that crypto investments in Indonesia noticed appreciable progress between 2020-2022, with 4% of the nation’s inhabitants having invested in crypto.
However, superstar involvement in crypto seemingly fueled the adoption spree amongst Indonesian buyers. In addition to the participation of well-liked stars resembling Joe Taslim, Jessica Iskandar and Shandy Aulia, the Indonesian superstar crypto scene witnessed quite a few nonfungible token (NFT) launches.