Indonesia-licensed crypto asset platform Pintu raises $113 million in Series B funding

Pintu, an Indonesian crypto-asset platform, announced the completion of a $113 million Series B funding round, with participation from four prominent investors: Pantera Capital, Intudo Ventures, Lightspeed, and Northstar Group.

Pintu is licensed by the Commodity Futures Trading Regulatory Agency (Bappebti) under the Indonesian Ministry of Trade to provide Indonesian cryptocurrency investors with the ability to trade popular cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).

Bappepti previously highlighted that the number of Indonesian cryptocurrency investors will double in 2022 compared to 2021, with Pintu founder and CEO Jeth Soetoyo stating:

“We believe that cryptocurrency adoption in Indonesia is only in its infancy and educating users on the fundamentals is critical to ensuring this growth continues in a healthy manner.”

The latest $113 million infusion will be used to expand the platform's existing offerings, such as introducing new features and support for blockchain. The company also plans to add more tokens and launch new products to further strengthen its presence in Indonesia.

Just two years since its inception, Pintu has rolled out numerous features on its mobile app that allow users to earn and stake their crypto assets. Additionally, a portion of the Series B funding will go to Pintu Academy, an educational program for cryptocurrency traders that aims to spread awareness of the opportunities and risks of investing in cryptocurrencies.

As Cointelegraph recently pointed out, crypto investment in Indonesia has seen considerable growth between 2020 and 2022, with 4% of the country’s population invested in cryptocurrencies.

Celebrity involvement in crypto appears to be fueling the adoption boom among Indonesian investors. Apart from the participation of popular stars such as Joe Taslim, Jessica Iskandar, and Shandy Aulia, the Indonesian celebrity crypto space has witnessed the launch of NFTs.