Indonesian cryptoasset platform Pintu has announced the closing of a $113 million Series B funding round, which was attended by four well-known investors Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group.

- Advertisement -

Licensed by the Commodity Futures Trading Regulatory Agency (Bappebti) under the Ministry of Commerce, Pintu serves Indonesian crypto investors in popular cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH).

- Advertisement -

Bappepti has previously highlighted the doubling of the number of Indonesian crypto investors in 2021-2022, to which Jet Soetoyo, founder and CEO of Pintu, said:

“We believe Indonesia’s cryptocurrency adoption is only in its early stages and educating users on the basics is critical to ensure that growth grows healthy.”

- Advertisement -

The latest $113 million in funding will be redirected to scaling the platform’s existing offerings, such as introducing new features and supporting blockchains. The company also plans to add more tokens and launch new products to further strengthen its position in Indonesia.

In just two years since its inception, Pintu has launched many features on its mobile app that allow users to earn and wager on their crypto holdings. In addition, a portion of the Series B funding will go towards the Pintu Academy, an educational program for crypto traders that aims to raise awareness of the opportunities and risks of crypto investing.

Celebrity Tokens: Signs of Rising Cryptocurrency in Indonesia

A recent analysis by Cryptooshala on April 3 showed that investment in cryptocurrencies in Indonesia increased significantly between 2020 and 2022, with 4% of the country’s population investing in cryptocurrencies.

However, celebrity involvement in crypto seems to have spurred a rise in adoption among Indonesian investors. In addition to the participation of popular stars such as Joe Taslim, Jessica Iskandar and Shandi Auliya, the Indonesian celebrity crypto scene has witnessed numerous non-fungible token (NFT) launches.