JAKARTA, August 29, 2010 (FBC) Indonesia’s largest technology company, PT GoTo GoJek Tokopedia Tibic (GoTo), has entered the cryptocurrency business by acquiring PT Crypto Maxima Coin to expand its services, GoTo said in a statement.
GoTo has acquired 100% of PT Kripto Maksima Coin’s shares for 124.84 billion rupiah ($8.38 million), it said in a statement to the stock exchange regulator on Monday.
The tech company, which raised $1.1 billion in an IPO earlier this year, said in a statement to Reuters that the deal was part of its aim to become a “diversified financial management hub”. Read more
“We believe that blockchain technology can play a major role in the future of finance,” GoTo said in a statement late Monday.
The technology company, however, did not reveal further plans for the newly acquired entity.
PT Kripto Maksima Koin is among 25 crypto exchanges licensed by Indonesia’s Commodity Futures Trading Regulatory Agency, known as Bapebti.
Cryptocurrency has gained popularity in Southeast Asia’s largest economy. In 2021, the total transaction volume of crypto assets increased by more than 1,000% to 859.4 trillion rupiah ($57.70 billion) compared to a year ago, according to the agency’s data.
($1 = 14,895.0000 rupiah)
Sign up now for unlimited access to Reuters.com
Report by Stefanno Sulaiman Editing by Tomasz Janowski
Our Standards: The Thomson Reuters Trust Principles.
