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

Binance will provide infrastructure and support for the new exchange.

By Parikshit Mishra
AccessTimeIconDec 15, 2021 at 5:54 a.m. UTC
Updated May 11, 2023 at 4:04 p.m. UTC
Jakarta, Indonesia (Shutterstock)
Jakarta, Indonesia (Shutterstock)
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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.
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    • Read more: Binance in Talks With Indonesian Heavyweights for Crypto Venture: Report


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    Parikshit Mishra
    Parikshit Mishra

    Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.

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