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Aditya Hadi Pratama · · 1 min readCoinbase, Pantera Capital join $6m round in Indonesian crypto exchange
“Pintu, an Indonesia-based cryptocurrency marketplace, announced that it has raised a US$6 million series A funding led by Pantera Capital, a US-based VC that focuses on blockchain startups,” DailySocial reported.
Details:
- The company later clarified that the round is led by Pantera Capital, Intudo Ventures, and Coinbase Ventures. Blockchain Ventures, Castle Island Ventures, and Alameda Ventures also participated in this round.
- Pintu will use the fresh funds for building brand awareness, recruiting talents, and developing new features.
- The startup’s founder, Jeth Soetoyo, also developed a stablecoin called Rupiah Token.
Context:
- Aside from providing cryptocurrency exchange services, Pintu also educates its users about crypto investment through the Pintu Academy platform.
- The company has been registered in Indonesia’s Ministry of Communication and Informatics and the Commodity Futures Trading Regulatory Agency (Bappebti). Other than Pintu, there are 12 others crypto exchanges that were registered with the ministry.
- In 2020, Indonesia processed more than US$10 billion cryptoassets transactions, mostly driven by massive investments from retail users.
Update (May 26, 01:00 pm): This article was updated to include clarification from the company.
Editing by Collin Furtado and Jaclyn Tiu
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