To Highborne Souls… — Fledgling Indonesian cryptocurrency exchange Pintu raised $35 million in August 2021. It has just closed another round of funding to realize its development ambitions.
Pintu takes on DeFi and NFT and goes up against the big exchanges
Pintu recently raised $113 million in Series B funding, which will be used to finance its growth.
In this context, the company plans to launch new products and services related to decentralized finance (DeFi). It also has a strong interest in non-fungible tokens (NFTs).
In addition to this expansion of its product range, Pintu also wants to increase its workforce. The company plans to continue recruiting in 2022, doubling the size of its team in 2021.
So with this development plan in mind, the crypto winter has not disrupted hiring at Pintu. While this bearish context has nonetheless forced major exchanges such as Coinbase to suspend hiring. Or Gemini, which had to lay off some of its employees because of the current situation.
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Doubly Cryptophilic Indonesia and Double Pint
Thus, Pintu’s vision is still focused on its development in the medium term, despite the fact that the crypto markets are halfway there.
With this infusion of fresh capital, the company will be able to take advantage of the cryptocurrency boom in Indonesia. To illustrate this growth. Its CMO Timothius Martin is talking about 6 million crypto investors in 2021. In February 2022, this figure will double and exceed 12 million.
The growing interest in cryptocurrencies in Indonesia is also reflected in the increase in the overall Pintu user base. With a client portfolio that more than doubled from December 2021 to May 2022. Its size has increased from 2 million to almost 5 million in the last six months.
Education as a pillar: the institution of cryptocurrencies on the stock exchange
If the above figures certainly illustrate the rapid growth of the cryptocurrency market in Indonesia. However, the latter is, according to Timothius Martin, “still relatively new”.
Given this relative youth of the sector, cryptocurrency education is of strategic importance. This allows crypto companies to support the growth of this market by taking advantage of opportunities.
And Pintu has exactly the right tool for this context, with its educational platform for beginners. She provides training on investment and risk management in cryptocurrencies.
Thus, Pintu is one of the cryptocurrency exchanges that continues to develop regardless of the bear market. In this regard, the platform, launched in April 2020, is in line with the fact that this cryptocurrency giant continues its rational growth with impatience.
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