Binance, MDI-Led Consortium to Create Crypto Exchange in Indonesia

Binance will provide infrastructure and support for the new exchange.

AccessTimeIconDec 15, 2021 at 5:54 a.m. UTC
Updated Dec 15, 2021 at 3:41 p.m. UTC

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

Crypto exchange Binance and a consortium led by MDI Ventures will establish a joint venture focused on developing blockchain technology in Indonesia, the company said in a press release on Wednesday.

  • The joint venture will create an Indonesia-based digital asset exchange. Binance will provide infrastructure and support for the new exchange.
  • MDI is the venture capital arm of Indonesia’s largest telecom company, Telkom Indonesia.
  • Binance was reportedly in talks with PT Bank Central Asia, which is controlled by billionaire brothers Budi and Michael Hartono, and Telkom Indonesia, the country’s largest telecom operator, about a possible venture.


DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

CoinDesk - Unknown

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

Trending

1
CoinDesk - Unknown
Crypto Lender Celsius Network Exploring Options to ‘Preserve and Protect’ Assets

Celsius Network is consulting with experts to try to reduce the fallout from its mid-June swoon.

CoinDesk - Unknown
3
CoinDesk - Unknown
Vitalik's Mom Offers Advice on How to Make It in Crypto

“You need to have a lot of perseverance and a lot of patience,” she said in an interview for CoinDesk's "Future of Work Week."

CoinDesk - Unknown
4
CoinDesk - Unknown
Do Rate Hikes Matter? Bitcoin Traders Learn How Fed Moves Markets in Twitter Era

The Federal Reserve has become a big believer in forward guidance over the years, starting with Ben Bernanke. But the central bank under Jerome Powell has taken transparency to a new level.

CoinDesk - Unknown