Indonesia-based cryptocurrency exchange Pintu raises $6 million from Coinbase, Pantera Capital and others

Indonesia-based cryptocurrency exchange Pintu has raised $6 million following a Series A financing round, according to the company’s blog.

Investors included Pantera Capital, Coinbase Ventures, Intudo Ventures, Blockchain.com Ventures, Castle Island Ventures, Alameda Ventures, and others.

The exchange will use the funds for marketing, hiring staff, and developing new tools and features.

Pintu is licensed to operate in Indonesia and registered as a cryptocurrency broker. The trading platform is aimed at the mass market and newcomers to the industry. According to company representatives, most investors are aged between 20 and 35.

Indonesian law treats digital currencies as exchange-traded commodities, but prohibits their use as a means of payment.

Earlier in May 2021, the country’s authorities announced the introduction of a profit tax on transactions with digital assets.

Subscribe to ForkLog news on VK!