fbpx

AsiaTechDaily – Asia's Leading Tech and Startup Media Platform

  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Menu
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Startup Program
  • Events
  • Lists
Submit Article
Featured30 Aug 2022 10:16

Indonesia’s GoTo acquires local crypto exchange Kripto Maksima Koin for $8.4m

by Team AsiaTechDaily
Bookmark (0)

Please login to bookmark

No account yet? Register

GoTo Gojek Tokopedia (GoTo), the biggest tech firm in Indonesia, is acquiring local crypto exchange Crypto Maksima Coin for about $8.4 million, GoTo said in a statement.

The move further diversifies GoTo’s services to now include crypto exchange.

According to a Reuters report, GoTo acquired 100% of PT Kripto’s shares for 124.84 billion rupiah ($8.38 million). The company told Reuters the purchase was part of its plan to turn itself into “a diverse money management hub.”

“We believe that blockchain technology may play a mainstream role in the future of finance and although no plans are imminent, from time to time we incubate or invest in new technologies to ensure we are able to embrace and pivot towards it when the time is right, in line with prevailing regulations,” GoTo said.

PT Kripto Maksima Koin is among the 25 crypto exchanges in the country that have been granted licences by the Indonesian Commodity Futures Trading Regulatory Agency, or Bappebti. Indonesia does not recognise cryptocurrency as a payment instrument but only as a trading commodity.

The acquisition comes as more than 600 crypto or blockchain companies are now headquartered in Southeast Asia, according to a report by venture investment firm White Star Capital.

To date, there has been $3.3bn worth of VC investment into the region’s digital assets companies. A lot of these investments were fairly recent, with more than $2.5bn occurring in the last 18 months, the report pointed out.

GoTo earlier integrated its GoFood Delivery service into the Tokopedia e-commerce platform.

With the integration of GoFood, Tokopedia customers will be able to order from their favorite food and beverage merchants seamlessly, while GoFood merchants will also gain access to Tokopedia’s growing customer base, providing them with more diverse earning opportunities and additional advertising potential.

The GoTo ecosystem consists of on-demand services (mobility, food delivery, and logistics), e-commerce (third party marketplaces + official stores, instant commerce, interactive commerce, and rural commerce), and financial technology (payments, financial services, and technology solutions for merchants) through the Gojek, Tokopedia, and GoTo Financial platforms.

Tags:

Similar Articles

Startup Policy4 Dec 2023 7:13

Navigating Singapore’s Startup Ecosystem: Top 5 Funding Initiatives Unveiled

More
Sabrina Peng, Chief Sustainability Officer of Ant Group, speaking about Alipay Ant Forest at COP28 in Dubai, UAE
Featured1 Dec 2023 4:28

Leveraging digital platform to amplify green participation by the public: An Ant Group case study presented at COP28

More
(Habitto Co-founder and CEO Samantha Ghiotti, Source: Cherubic Ventures)
Interviews29 Nov 2023 2:12

How Habitto managed to break into the Japanese Fintech scene in record time without knowing a word of Japanese

More

Weekly popular posts

Venture Capital30 Nov 2022
Australian startup FrankieOne gets another $15.5m for fraud detection
more
FinTech30 Nov 2022
Funding Societies hits THB1bn mark in loan disbursements to Thai SMEs
more
Featured2 Dec 2021
PH ‘most receptive’ market for secondhand goods, Carousell report says
more
FinTech29 Nov 2021
Grab leads latest funding round in Indonesia’s Bareksa
more
Events4 Dec 2019
UNDP’s Global Innovation Initiative for Sustainable Agriculture
more

Topics

Menu
  • AI & Big Data
  • AR & VR
  • Blockchain
  • Clean Technology
  • Content & Games
  • Cybersecurity
  • Enterprise & SaaS
  • Gadgets & Electronics
  • Health & Bio

Program

Menu
  • Ecosystem
  • EdTech
  • Featured
  • FinTech
  • Investments
  • IoT
  • Marketplaces & E-commerce
  • Robotics
  • Transportation & Logistics

About

Menu
  • Home
  • Advertisement
  • Contact Us
  • Privacy Policy

Subscribe and be informed first hand about the actual economic news.

All the day’s headlines and highlights, direct to you every morning.

© 2023 asiatechdaily. All rights reserved.

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback