Indonesia’s biggest tech firm buys local crypto exchange
Indonesia’s biggest tech firm GoTo Gojek Tokopedia (GOTO) has forayed into the cryptocurrency market with the purchase of local crypto exchange Kripto Maksima Koin for US$8.38 million.
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Fast facts
- GoTo has acquired 100% of Kripto Maksima Koin shares for 124.84 billion rupiah (US$8.38 million), Reuters reported, citing a statement sent to the Indonesian stock market regulator.
- GoTo also offers on-demand transportation services, e-commerce, food and grocery delivery, as well as financial and payment services.
- The tech firm’s entry to the crypto market is part of its plan to become a “diverse money management hub,” and follows an April IPO worth over US$1 billion.
- Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), which regulates crypto trading in the Southeast Asian nation, had stopped issuing registration certificates for crypto asset traders earlier this month, according to a TechinAsia report.
- Kripto Maksima Koin is one of Indonesia’s 25 licensed crypto trading companies under Bappebti.
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