Pantera Capital and 5 more companies invested $6 million in Pintu
Indonesian cryptocurrency exchange Pintu for novice users has raised $6 million to spur its industry adoption, TechCrunch reported.
The main investors were Pantera Capital, Coinbase Ventures, Intudo Ventures, Alameda Ventures, Blockchain Ventures and Castle Island Ventures.
Jeth Soetoyo founded Pintu, a large licensed cryptocurrency company in Indonesia in 2020. The company is regulated by the Indonesian Commodity Futures Trading Regulatory Authority (Bappepti). In addition, the exchange is a licensed cryptocurrency broker Bappebti and the Ministry of Communications and Informatics.
The company will spend money on its development: marketing, hiring employees and product development.
Andrew Agiputro, Pintu’s chief operating officer, told TechCrunch in an email that Pintu differs from major Indonesian cryptocurrency exchanges such as Indodax and Tokocryptocurrency as it focuses on attracting new cryptocurrency users.
According to him, in Indonesia, most retail traders see cryptocurrency as another type of investment asset.