Indonesian tech firm
has purchased a nearby cryptocurrency exchange for $8.4 million.
PT GoTo (Gojek Tokopedia Tbk), Indonesia's most prominent tech firm, has entered the cryptocurrency business by acquiring a
local cryptocurrency exchange
PT kripto Masksium koin in a bid
to diversify its service.
GoTo acquired 100% shares of PT Kripto MaksimaKoin for
rupiahs ($8.38 million), the company said in a statement to the stock exchange.
According to Reuters, the deal is part of the tech firm's goal of becoming "a diverse money management hub."
It raised $1.1 billion in its IPO earlier this year
The tech firm did not disclose further plans for the
We believe that blockchain technology has
the potential to play a significant role
in the future of finance.
PT Kripto Maksima
Koin is one of the 25 crypto exchanges licenced by Indonesia.
Cryptocurrency has grown in popularity in Southeast Asia's largest economy, with the total transaction volume of crypto assets expected to increase by more than