Binance signed a new partnership with a consortium led by MDI ventures to expand the blockchain ecosystem in Indonesia. The most important part of this partnership is the launch of a digital asset exchange in Indonesia. Binance that calls itself the leading blockchain and cryptocurrency infrastructure provider, aims to offer exchange services explicitly for Indonesian citizens. It can result in more partnerships and expansions in Southeast Asia. A region with numerous opportunities for cryptocurrency and blockchain development.
Many major blockchain companies have chosen Southeast Asia as the region of expansion. They know the people and organizations in these countries need innovative solutions for payment, trading, and cross-border transactions. Binance is now aiming at the trading needs with the new partnership with MDI.
MDI is the venture capital of Indonesia’s largest telecom company, Telkom Indonesia. The latest partnership with Binance lets this venture enter the cryptocurrency and digital asset sector with more confidence. It can show Indonesian citizens the serious plans for offering digital asset trading opportunities.
As mentioned above, the partnership between Binance and the consortium is mostly focused on exchange infrastructure. Having some of the leading cryptocurrency exchange services in the world, Binance can now offer its technologies as services to other companies. The technology to support the development of a new exchange will be provided by Binance.
Another important fact about this partnership is that the consortium led by MDI has considerable experience in offering digital financial services. It has access to about 170 million consumers in Indonesia.
Changpeng “CZ” Zhao, Founder and CEO of Binance, said about the partnership:
“Our ambition at Binance is to grow the blockchain and cryptocurrency ecosystem globally, and this initiative in Indonesia is a significant step in that direction. With fast technology adoption and strong economic potential, Indonesia could become one of the leading centers of the blockchain and crypto ecosystem in Southeast Asia. We are thrilled to name MDI as our latest partner in the region. With their depth of experience in the market, we are confident that we will deliver leading products for users locally.”
The latest partnership isn’t Binance’s only plan in expanding blockchain and cryptocurrency services. The company is working with numerous entities around the world and investing in many initiatives for launching and running digital asset service platforms. Some of the latest actions were a 100M EUR initiative to support the development of the French blockchain ecosystem. Besides, Binance Asia Services recently invested in Hg Exchange in Singapore.