Binance invests in Indonesian crypto-exchange

Binance just announced a investment (undisclosed amount) in the regulated Indonesian cryptocurrency exchange TokoCrypto.

The cryptocurrency giant continues its expansion around the world with the taking of a minority stake in the TokoCrypto platform.

The Binance investment will help establish Tokocrypto's main services in the Indonesian market and accelerate our vision by bringing an open financial ecosystem through blockchain technology, ”commented Pang Xue Kai, CEO of Tokocrypto.

Founded in Jakarta, Indonesia in 2018, the stock exchange offers crypto-trading services with the objective of "stimulating adoption and increasing the accessibility of cryptocurrency" by Indonesia. It’s also about first regulated platform by the Indonesia Commodity Futures Trading Regulatory Agency.

The company will use the funds raised to accelerate the growth of its activities with the development of new products and services, technological improvements, as well as new initiatives for blockchain education in the region.

With the rapid adoption of technology, strong economic growth and the fourth largest population in the world, Indonesia will become one of the main centers of the blockchain ecosystem in Southeast Asia. Our investment in Tokocrypto will allow us to explore together exciting new opportunities for the Indonesian market with a local regulated partner to further allow freedom of money, "said Changpeng Zhao, CEO of Binance.

These last months, Binance has made several investments in crypto exchanges. The number 1 cryptocurrency exchange seems to favor regions with dense populations. In the fall of 2019, he notably acquired the Indian stock exchange Warzirx.