{"id":319489,"date":"2021-08-09T20:00:00","date_gmt":"2021-08-09T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/indonesian-crypto-exchange-pintu-raises-35m-in-series-a\/"},"modified":"2021-08-09T20:00:00","modified_gmt":"2021-08-09T17:00:00","slug":"indonesian-crypto-exchange-pintu-raises-35m-in-series-a","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/indonesian-crypto-exchange-pintu-raises-35m-in-series-a\/","title":{"rendered":"# Indonesian crypto exchange Pintu raises $35M in Series A"},"content":{"rendered":"

“# Indonesian crypto exchange Pintu raises $35M in Series<\/a> A <\/strong>”
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Pintu, Indonesia\u2019s first mobile native cryptocurrency wallet and trading platform, has raised $35 million from some of blockchain\u2019s biggest venture funds \u2014 putting the company on track to expand its team and product offerings in the near future.\u00a0<\/p>\n

The Series A was led by Lightspeed Venture Partners, a technology<\/a>-focused investor with broad exposure to blockchain, fintech and data analytics. Several other high-profile venture funds also participated in the raise, including Alameda Ventures, Blockchain.com, Pantera Capital, Coinbase Ventures, Castle Island Ventures and Intudo Ventures.<\/p>\n

With the funds, Pintu plans to hire additional talent, roll out new product offerings and fuel future adoption of cryptocurrency in Indonesia. Jeth Soetoyo, Pintu\u2019s co-founder and CEO, said his platform will help Indonesians \u201covercome the barriers [to] financial inclusion.” He further explained the value proposition that Indonesia poses to crypto adoption:<\/p>\n

\u201cAs the fourth-most populous country in the world and with only 1-2% of Indonesians having exposure to cryptocurrencies, there is an immense opportunity for retail investors to gain access to diversified and dynamic investment opportunities through Pintu\u2019s unique crypto-asset trade offerings.\u201d<\/p><\/blockquote>\n

Indonesia\u2019s crypto industry is still in its nascent stage as more companies navigate a complex regulatory framework for buying and selling digital assets. The country\u2019s Commodity Futures Trading Regulatory Agency, also known as BAPP<\/a>EBTI, gave crypto the green light in February 2019, classifying the asset class as a speculative commodity. However, Bank Indonesia, the country\u2019s central bank, maintains a strict ban on cryptocurrency payments.<\/p>\n

Related: <\/em><\/strong>Indonesia’s central bank marshals staff to enforce crypto payments ban<\/em><\/strong><\/p>\n

Pintu is recognized as a licensed cryptocurrency broker under BAPPEBTI, which allows the company to serve retail investors. Currently, the broker offers 16 cryptocurrencies, including nonfungible tokens. Indonesia is home to over 6.6 million cryptocurrency investors, which is trip<\/a>le the country\u2019s public equity investors, according to the Ministry of Trade. <\/p>\n

As Cointelegraph reported, lawmakers in the country are mulling a new tax framework for cryptocurrency traders. In May of this year, a spokesperson for the Indonesian Directorate General<\/a> of Taxes said crypto profits may soon be classified as capital gains. <\/p>\n

Related: <\/em><\/strong>Binance-backed Indonesian crypto exchange considers IPO<\/em><\/strong><\/p>\n