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 May 11, 2023 at 4:04 p.m. UTC
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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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