Cryptocurrency exchange Binance is in talks with Indonesia’s largest bank Bank Central Asia (BCA) and state-owned telecommunications company Telkom Indonesia to form a joint venture within the country. The information comes from Bloomberg, citing informed sources.
The deal concerns a platform for trading digital assets. Sources said the transaction is still under discussion, and its terms could change.
Owned by Indonesia’s wealthiest family, the Hartono family, BCA could form a collaboration with the exchange through one of its units. Telkom Indonesia is interested in blockchain-sector investments through its venture arm, MDI Ventures.
BCA and Telkom Indonesia are publicly listed companies. The former’s market capitalization exceeds $63 billion, the latter is valued at about $28.6 billion.
Binance is already active in Indonesia. In 2020 the company acquired a controlling stake in the regulated bitcoin exchange Tokocrypto. In the next two to three years, the latter plans to go public.
Earlier, Binance acquired an 18% stake in Singapore-based security-token platform Hg Exchange.
Earlier, Zhao said in December that the company aimed to to obtain registration in the United Kingdom.
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