56.8% of metaverse-related tweets from Vietnam were positive sentiments that support the concept. A recent analysis of more than a million tweets showed a list of countries that love and hate the metaverse, with Vietnam showing the most love for the concept and Ireland topping the opposite side of the spectrum. Crypto data website CoinKickoff…
The Reserve Bank of India (RBI) says one of the priorities for the G20 under India’s presidency is to “develop a framework for global regulation, including the possibility of prohibition, of unbacked crypto assets, stablecoins, and defi.” The Indian central bank warned that “turmoil in crypto assets market” is among “the major risks that can […]
By acquiring PT Kripto Maksima Koin, the tech giant pursues a goal to become “a diverse money management hub.”
Indonesian tech company PT GoTo Gojek Tokopedia Tbk (GoTo) bought PT Kripto Maksima Koin, a local crypto exchange, in a bid to diversify its assets. The deal makes a landmark in the merging of mainstream and crypto in the fourth most populated country in the world.
As reported by Reuters, the sum of the acquisition of 100% shares by the country’s “biggest tech firm” came to 124.84 billion rupiahs ($8.38 million). The deal was finalized on Aug. 25, according to Indonesian media.
GoTo didn’t reveal any specific plans for PT Kripto Maksima Koin’s further development, but in an official statement, its representatives explained a deal as part of its effort to “a diverse money management hub.”
PT Kripto Maksima Koin is one of the 25 crypto platforms licensed by Indonesia’s Commodity Futures Trading Regulatory Agency (BAPPEBTI). It received the license relatively recently, on Jan. 28, 2022.
Earlier this year, GoTo, which had been formed as a result of a merge between a local e-commerce leader and an on-demand multi-service platform, conducted its initial public offering (IPO), raising $1.1 billion.
Related: Mastercard partners with crypto gateway to drive financial inclusion in Indonesia
According to Reuters data, in 2021 total transaction volume of the crypto assets in Indonesia rose more than 1,000% compared to 2020, to 859.4 trillion rupiahs ($57.7 billion). Roughly 4% of the country’s population, which is a little under 11 million people, have been investing in crypto.
In recent years, the country saw a rising tide of celebrity coins and non-fungible token (NFT) projects, with regulators’ having to weigh in in a mild manner — BAPPEBTI has been repeatedly warning the population about the risks of investing in non-registered digital assets, but at the same time, it got along without harsh prosecution, involving even the non-registered providers in a dialogue.
The conceptual design of the future digital rupiah would be released by the end of 2022. The digital rupiah’s security
The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End Indonesia’s monetary authority is […]
The latest $113 million fund injection will be redirected to scale the platform’s existing offerings, such as introducing new features and added support for blockchains.
Indonesian crypto asset platform Pintu announced the closure of a $113 million Series B funding round participated by four prominent investors Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group.
Licensed by the Commodity Futures Trading Regulatory Agency (Bappebti) under the Ministry of Trade, Pintu caters to Indonesian crypto investors dealing in popular cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
Bappepti previously highlighted the doubling in the number of Indonesian crypto investors in 2021-2022, to which Jeth Soetoyo, Founder and CEO of Pintu, said:
“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 latest $113 million fund injection will be redirected to scale the platform’s existing offerings, such as introducing new features and support for blockchains. The company also plans to add more tokens and launch new products to solidify its position in Indonesia further.
In just two years since its inception, Pintu launched numerous features on its mobile application that allow users to earn and stake their crypto holdings. In addition, a part of the Series B funding will be dedicated to Pintu Academy, an educational program for crypto traders that aims to spread awareness about the opportunities and risks of crypto investing.
Related: Celebrity tokens: Signs of rising crypto adoption in Indonesia
A recent Cointelegraph analysis from April 3 pointed out that crypto investments in Indonesia saw considerable growth between 2020-2022, with 4% of the country’s population having invested in crypto.
However, celebrity involvement in crypto seemingly fueled the adoption spree among Indonesian investors. In addition to the participation of popular stars such as Joe Taslim, Jessica Iskandar and Shandy Aulia, the Indonesian celebrity crypto scene witnessed numerous nonfungible token (NFT) launches.
The government of Indonesia permits cryptos to be traded as commodities. The survey only included Indonesians making more than $14,000
The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases. Indonesia to Start Taxing Crypto Income at 0.1% The Indonesian Directorate General of Taxes, the Ministry of Finance, has set income tax […]