Binance to create crypto exchange in Indonesia

According to a joint announcement, the agreement will also seek to broaden blockchain adoption throughout Indonesia. To assist with the development of the new exchange platform, Binance will provide asset management infrastructure and technology. The agreement will also seek to increase the application of blockchain technology in Indonesia more broadly.

The new partnership allows Binance to grow its operations in a nation where it already has an investment in crypto trading platform Tokocrypto.

Binance, which faced regulatory restrictions throughout the second and third quarters of 2021, is now aiming to expand its presence across Asia. The Singapore affiliate of cryptocurrency trading Binance has recently purchased an 18% stake in Hg Exchange, a local private securities exchange.

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