ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Crypto action heats up in Indonesia as Tokocrypto weighs IPO

Country is hot spot for digital currency, based on government data

The number of cryptocurrency traders in Indonesia is estimated at 4 million and is expected to grow exponentially given the size of the country's population at 275 million, industry watchers predict.    © Reuters

JAKARTA -- In a sign of the rise of cryptocurrency in Indonesia, the global cryptocurrency exchange Luno is said to be weighing entry into the Southeast Asian market. At the same time, Binance-backed local operator Tokocrypto is looking at a public market debut.

Luno is understood to be in talks with conglomerate Lippo Group to set up a joint venture to start operations in the country, according to two people familiar with the development.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more