Global crypto exchange powerhouse Binance is in talks with Indonesian financial institution Bank Central Asia (BCA) and state-owned Telkom Group to set up a cryptocurrency exchange, Bloomberg reported, citing people with knowledge of the matter.
BCA is part of Djarum Group, an Indonesian conglomerate that has prominent businesses in tobacco, entertainment, and digital services. The private bank, which is considered the largest in Indonesia, may form a partnership with Binance through another related firm, according to a source in the report.
Binance itself entered the Indonesian market in 2020 through its investment in local crypto exchange Tokocrypto.
Editing by Collin Furtado and Lorenzo Kyle Subido
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