Binance plans to open a new cryptocurrency unit in Indonesia

For the exchange, a cooperation with the largest Indonesian companies can help in the spread of cryptocurrencies in the Southeast Asia regions

10.12.2021 - 09:50

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What’s new? Binance is negotiating with PT Bank Central Asia as well as PT Telkom Indonesia, a state-owned telecom operator, to set up a cryptocurrency exchange in the country. This is reported by Bloomberg.

Information on the Bloomberg website

What are the advantages of the partnership? For Binance, the cooperation with two of Indonesia's largest companies may help spread cryptocurrencies across the Southeast Asia regions:

“We are supportive of the sustainable growth of the blockchain industry globally and we are constantly looking at business opportunities in every country.”

Telecom, the country's telecommunications operator, is looking for options for cooperation in the blockchain and cryptocurrency market through its venture capital firm MDI Ventures.

What had happened before? Earlier, the company announced its latest investment to expand its business in Singapore. Binance CEO Changpeng Zhao said that the cryptocurrency exchange acquired 18% of Singapore-regulated private securities exchange Hg Exchange (HGX)

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