Binance Plans Joint Venture with Big Indonesian Firms
- Binance already owns a majority stake in a local Indonesian crypto exchange.

Binance is in talks with two of Indonesia’s largest companies, PT Bank Central Asia and PT Telkom, to establish a locally operated cryptocurrency exchange in the Southeast Asian country, Bloomberg reported on Friday.
PT Bank is the third-largest bank by assets in Indonesia and is controlled by billionaire brothers Budi and Michael Hartono who are from the richest family in the country. In contrast, PT Telkom is a state-owned company and is the largest telecom operator in the country.
PT Bank is expected to form a partnership with Binance through one of its existing entities, the report detailed citing multiple anonymous sources. However, the talks are still in the early stages and the terms of the deal might change before they are finalized.
In a statement to the media, Binance refused to confirm or deny the partnership, saying it has a ‘policy of not commenting on rumors or speculation’.
A Major Unbanked Barket
Binance, which is the largest cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
Read this Term in terms of trading volumes, already has a presence in Indonesia as it acquired a majority stake in the local platform, Tokocrypto, which is considering going public in the coming years.
But, Binance successfully forms another entity with the two local heavyweights, and it will strengthen its presence in the fourth populous country in the world. Moreover, a major portion of the developing country does not have access to a modern banking infrastructure which is lucrative to promote crypto services.
Meanwhile, Binance is considering seeking approval from the British financial market supervisor to operate in the UK in a regulated manner.
Binance is in talks with two of Indonesia’s largest companies, PT Bank Central Asia and PT Telkom, to establish a locally operated cryptocurrency exchange in the Southeast Asian country, Bloomberg reported on Friday.
PT Bank is the third-largest bank by assets in Indonesia and is controlled by billionaire brothers Budi and Michael Hartono who are from the richest family in the country. In contrast, PT Telkom is a state-owned company and is the largest telecom operator in the country.
PT Bank is expected to form a partnership with Binance through one of its existing entities, the report detailed citing multiple anonymous sources. However, the talks are still in the early stages and the terms of the deal might change before they are finalized.
In a statement to the media, Binance refused to confirm or deny the partnership, saying it has a ‘policy of not commenting on rumors or speculation’.
A Major Unbanked Barket
Binance, which is the largest cryptocurrency exchange
Cryptocurrency Exchange
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) for short.How Does Trading Take Place on a Crypto Exchange?Cryptocurrency trading occurs over a centralized exchange, although these crypto exchanges should be used with caution given the implications that surround the custody of new assets. Similar to the banking industry, when a crypto exchange holds cryptocurrencies of users they accrue interest and are no longer classified as client money.These provide an accessible platform for not only companies, hedge funds, and retail traders for exchanging digital currencies.Additionally, crypto exchanges serve a critical role in producing stability within the cryptocurrency sector given how the sourcing and pricing of these assets are innately volatile. One could think of a crypto exchange as an intermediary who provides a service by connecting buyers and sellers from various markets under one roof. In exchange for facilitating trades and for services rendered, a digital currency exchange generally collects a fee of an outgoing transaction that averages between 0.20% to 0.25% or will request a deposit fee that has been known to be as high as 11% for credit card deposits. Crypto exchanges may also support the exchange of crypto tokens, such as the Binance Token, which is ranked as the 9th most valuable cryptocurrency in the world.
Read this Term in terms of trading volumes, already has a presence in Indonesia as it acquired a majority stake in the local platform, Tokocrypto, which is considering going public in the coming years.
But, Binance successfully forms another entity with the two local heavyweights, and it will strengthen its presence in the fourth populous country in the world. Moreover, a major portion of the developing country does not have access to a modern banking infrastructure which is lucrative to promote crypto services.
Meanwhile, Binance is considering seeking approval from the British financial market supervisor to operate in the UK in a regulated manner.