Binance in talks about setting a crypto exchange with Indonesia’s richest family

December 14, 2021
 
Binance Holdings Ltd. is in talks with Indonesia’s richest family, the Hartonos, and a state-owned telecom operator to set up a cryptocurrency trading exchange, according to sources.
A partnership with Binance and sibling billionaires Budi and Michael Hartono, who controls PT Bank Central Asia is going to change the crypto game in the world’s fourth most populous nation, Indonesia. Other than the bank, the Hartonos also owns a major cigarette manufacturer, a telecom-services firm as well as e-commerce businesses.
The deal will certainly give Binance a strong foothold in Indonesia.
However, both parties did not provide any comment on the matter yet. A representative of BCA said the lender had not discussed such an investment at a board meeting.
Binance already has an investment in Tokocrypto, one of Indonesia’s largest exchanges for cryptocurrency trading.
Source: Bloomberg
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