Wednesday, 2023 September 27

Indonesian crypto exchange Pintu bags funding from Pantera Capital and Coinbase

Jakarta-based Pintu reportedly received USD 6 million in an extended Series A funding round led by Dan Morehead’s Pantera Capital. Other notable names from the sector participated, including US-based crypto exchange Coinbase, Blockchain Ventures, and local investor Intudo Ventures.

The company didn’t deny the news when contacted by DailySocial and said it would share further information later.

Pintu facilitates investments in crypto assets. It also runs an education program called Pintu Academy, where users can access learning materials about cryptocurrency, with a mission to support and attract new crypto investors. The company is registered and licensed by the Trade Ministry’s Futures Exchange Supervisory Board (Bappebti) and the Ministry of Communications and Information (Kominfo).

In a previous interview with DailySocial, Pintu founder Jeth Soetoyo said that people are becoming more enthusiastic about crypto investments. As such, education about the sector is a crucial factor, as investors must understand the fundamentals of the instrument, he said.

Before Pintu, Soetoyo founded PT Rupiah Token Indonesia, which developed a stablecoin called Rupiah Token, or IDRT. The price of the Ethereum-based token is pegged 1:1 to the rupiah, Indonesia’s currency. Other than more volatile cryptocurrencies like bitcoin, stablecoins offer certain stability and are backed by a reserve asset.

This article first appeared in Daily Social


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