Using the additional $113 million in funding, the platform’s current offerings will be expanded.
A $113 million Series B fundraising round led by Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group has been completed by Pintu, an Indonesian crypto asset marketplace.
Bappebti, Indonesia’s Ministry of Trade-licensed Commodity Futures Trading Regulatory Agency, oversees Pintu, which serves Indonesian crypto investors who want to buy and sell Bitcoin (BTC) and Ether (ETH) (ETH).
Pintu founder and CEO Jeth Soetoyo indicated that the number of Indonesian crypto investors in 2022 would treble from 2021, which was earlier reported by Bappepti.
Indonesian crypto adoption is only getting started, and educating consumers on the basics is crucial to maintaining healthy growth.
New features and blockchain support will be added to the platform’s current products as a result of a $113 million funding infusion. Additional tokens and new items will be added to the company’s product line-up in Indonesia as well.
Pintu has added various features to its mobile app in the two years since its debut, allowing users to earn and bet their cryptocurrency holdings. Series B money will also be used to support Pintu Academy, an instructional programme for cryptocurrency traders who want to learn more about their options and dangers.
4% of Indonesia’s population has invested in crypto, according to a new report from Cointelegraph. Indonesian crypto investments grew significantly between 2020 and 2022.
Indonesian investors’ adoption frenzy may have been sparked by celebrities’ interest in cryptocurrency. Non-fungible token (NFT) releases were also common in the Indonesian celebrity crypto scene with the involvement of Joe Taslim, Jessica Iskandar and Shandy Aulia.