Indonesian crypto asset platform Pintu announced the closure of the $113 million Series B funding round participated by four prominent investors Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group.
Licensed through the Commodity Futures Buying and selling Regulatory Agency (Bappebti) underneath the Secretary of state for Trade, Pintu suits Indonesian crypto investors getting popular cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
Bappepti formerly highlighted the doubling in the amount of Indonesian crypto investors in 2021-2022, that Jeth Soetoyo, Founder and Chief executive officer of Pintu, stated:
“We think that crypto adoption in Indonesia is just in the beginning stages, and educating users around the fundamentals is crucial to making certain this growth continues inside a healthy way.”
The most recent $113 million fund injection is going to be redirected to scale the platform’s existing choices, for example presenting additional features and support for blockchains. The organization also intends to increase the tokens and launch new items to solidify its position in Indonesia further.
In only 2 yrs since its beginning, Pintu launched numerous features on its mobile application that permit users to earn and stake their crypto holdings. Additionally, an element of the Series B funding is going to be focused on Pintu Academy, an academic program for crypto traders that aims to spread awareness concerning the possibilities and perils of crypto investing.
A current Cointelegraph analysis from April 3 noticed that crypto investments in Indonesia saw considerable growth between 2020-2022, with 4% from the country’s population getting committed to crypto.
However, celebrity participation in crypto apparently fueled the adoption spree among Indonesian investors. Additionally towards the participation of popular stars for example Joe Taslim, Jessica Iskandar and Shandy Aulia, the Indonesian celebrity crypto scene observed numerous nonfungible token (NFT) launches.