Indonesian cryptocurrency exchange and wallet Pintu raised $110 million to develop platform existing offerings and support blockchain


Indonesian
cryptocurrency exchange and wallet Pintu announced that it has raised $110
million in a Series B funding round to develop the platform’s existing offerings, including
introducing new features and support for blockchains.
The participants
going for investments in the rounds includes four prominent venture capital
firms Lightspeed, Pantera Capital, investment advisory firm Northstar Group,
and Intudo Ventures. According to Pintu, newly raised funds will be used in building
out new features, developing its product offerings, providing additional support
to tokens and blockchains, and also expand of an educational program for crypto
traders Pintu Academy. It aims to spread awareness about the opportunities and
risks of crypto investing. The company further plans to add more tokens and
launch new products. This will help to strengthen its position in Indonesia.
Pintu is
Licensed by the Commodity Futures Trading Regulatory Agency, or Bappebti, under
the Ministry of Trade. Indonesian crypto asset platform Pintu caters to
Indonesian crypto investors dealing in popular cryptocurrencies, including
Bitcoin (BTC) and Ether (ETH). In an interview Eddy Chan, Founding Partner at
Intudo confirmed that Pintu app has exchange features, a crypto wallet, and
staking platform, and its own token
About exchange
platform Pintu :
In April 2020 the
beginner-friendly Pintu mobile app was launched. Since its founding, Pintu has
launched numerous features on its mobile app that allow users to earn crypto
and stake it. The platform will support the purchase and sale of cryptocurrencies
including bitcoin (BTC), Ether (ETH), and 50 other cryptocurrencies. The app
consists of a number of payment integrations to make it easier for users to
deposit and withdraw funds including features like Pintu Earn offering up to
15% yield and Pintu Staking for staking of the native Pintu token. In just two
years since its launch, Pintu app has got from zero to four million downloads. In
August Lightspeed led Pintu’s $35 million Series A extension.
Last year the
exchange doubled the size of its team to 200 and plans to continue with its
aggressive hiring plans to help address the booming crypto market in Indonesia.
About
Indonesia’s crypto market :
In a statement, Pintu
founder and CEO Jeth Soetoyo said that over the past year remarkable growth has
been seen in Indonesia’s crypto market. This growth is due to regulatory
encouragement and increased awareness among ordinary people. Indonesian crypto
investors in 2022 have doubled from 2021 with 4% of the country’s population
having invested in crypto. Soetoyo, said: “We believe that crypto adoption in
Indonesia is only in its beginning stages, and educating users on the
fundamentals is critical to ensuring this growth continues in a healthy way.”
Celebrities'
involvement with cryptocurrency appears to have fueled Indonesian investors' adoption.
The Indonesian celebrity crypto scene saw a number of the nonfungible token (NFT)
launches, along with the participation of stars such as Joe Taslim, Jessica
Iskandar, and Shandy Aulia.

Indrani bose
CBW - External Analyst
INDIA