Binance Plans To Open New Crypto Exchange In Indonesia

Brief:

  • Binance has entered into a partnership agreement with consortium MDI Ventures in Indonesia
  • The company plans to create a new exchange in the country to process digital currency transactions

Binance collaborates with the largest telecommunications company in Indonesia in order to organize a new crypto exchange. The site will strengthen the position of an international partner in the country.

The Exchange has already signed an agreement with the MDI Ventures consortium, the venture capital arm of Telkom Indonesia. Binance noted that the deal will serve for the global development of the blockchain industry, both in the country itself and globally.

“Thanks to the enormous economic potential and modern technology, Indonesia can take a central position in the field of blockchain the Southeast Asian market, “said Binance CEO Changpeng Zhao.

The press release indicated that Binance will take over the infrastructure, project organization and provide the necessary technology for asset management. In turn, the TV company will provide the portal access to a huge target audience in 220 million people.

The platform will not only make it possible to popularize blockchain projects and make cryptocurrency transactions more accessible, but also significantly expand the field of Binance’s activities in this region.

Following a wave of regulatory restrictions, the world’s largest crypto exchange by trading volume is looking to expand its presence in Southeast Asia.

Earlier we talked about what she acquired 20% of the shares of the Singapore private stock exchange Hg Exchange. This opened up new opportunities for Binance, but led the company to ditch its branch in the country.

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