Kul Bhushan · · 1 min readSG blockchain VC firm invests in 🇮🇩 crypto assets exchange
Signum Capital, a Singapore-based VC firm that focuses on blockchain companies, has invested an undisclosed sum in Tokocrypto, an Indonesia-based crypto assets exchange.
The investment focuses on the Toko token (TKO), a crypto project that aspires to drive the “TokoVerse” ecosystem, which includes an exchange, a marketplace for non-fungible tokens, and more.
Photo credit: Tokocrypto
In April, the token debuted via the Binance Launchpad and saw a 50,000% oversubscription of its hard cap – the limit placed by the blockchain’s code on the maximum supply of a cryptocurrency. Six months after its launch, more than 55,000 Indonesians were holding over 6 million TKOs, according to a whitepaper published by Tokocrypto.
The crypto exchange plans to use the latest investment to accelerate the work on the ecosystem and expand the use cases of TKO in the long term.
“We will be focusing on the four key areas which includes infrastructure building and enhancement, financial services and systems, asset tokenisation platforms, as well other applications and tools,” Signum Capital founder John Ng Pangilinan said in a statement.
Editing by Collin Furtado and Lorenzo Kyle Subido
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