On June 7, 2022, Indonesian cryptocurrency exchange Pintu raised $113 million in a Series B round of funding from Pantera Capital, Intudo Ventures, Lightspeed Venture Partners, and Northstar Group. Among them, Pantera Capital invested in Pintu again, and Pantera Capital also issued an article explaining why it invested in Pintu.
Cryptocurrencies go global
The past few years have seen mass adoption of cryptocurrencies across the United States, but the growth of cryptocurrencies outside North America has gone unnoticed. Gemini recently released a report on the state of cryptocurrencies around the world, finding that nine countries, including Indonesia, Brazil, Mexico, and South Africa, have populations that significantly outpace the U.S. in cryptocurrency adoption.
Emerging market drivers go beyond the investment case for cryptocurrencies. Many countries see cryptocurrencies as an alternative to inflation-prone currencies, a cheaper channel for cross-border payments, and a viable financial system for the unbanked. For the emerging international crypto market, the most important technology is the exchange and wallet platform that brings retail users into the crypto ecosystem for the first time.
Among adults earning more than $14,000 a year, Indonesia has the highest cryptocurrency ownership rate (41%). (State of the Global Cryptocurrency Report, Gemini, 2022)
Why we should invest in Pintu
We are excited to double our investment in Pintu, Indonesia’s leading cryptocurrency exchange and asset platform. Indonesia is one of the most dominant countries in the Asian crypto market, with a forward-looking regulatory environment and a rapidly growing digitally native population. 12 million Indonesians actively invest in cryptocurrencies, while only 7 million Indonesians invest in domestic stocks.
For many Indonesians, cryptocurrency (and Pintu) is their first exposure to investing. For them, the global, transparent, real-time nature of blockchain is not an innovation – it puts traditional finance directly in the rearview mirror. Indonesia is also one of only two countries in the world where more women (51%) own crypto assets than men, according to Gemini’s State of Crypto 2022 report.
We believe that Pintu’s user-friendly, education-focused exchange will be the first choice for the next generation of crypto users from the world’s fourth most populous country (with over 270 million people).
why we are excited
Indonesia is one of the most impacted markets for crypto asset ownership, with a current market penetration rate of 4%. Two-thirds of the country’s population is unbanked. The rupiah has lost 50% of its value over the past decade. Meanwhile, Indonesia’s Commodity Futures Trading Regulatory Agency (BAPPEBTI) is the regulator that oversees crypto trading, and the national government has made big strides in adopting cryptocurrencies. With a whitelist of over 200 different crypto assets and regulatory support for exchanges such as Pintu to provide secure access, Indonesia has the motivation and drive to quickly bring the benefits of blockchain to its citizens.
Pintu caters to 99% of non-professional traders by supporting over 50 of the most popular cryptocurrencies and product components designed for first-time cryptocurrency users. Instant integration with Indonesian financial institutions and a smooth, simple interface have seen Pintu’s installs grow sevenfold to 4 million users since May 2021. Pintu recently launched Pintu Earn and Pintu Staking, bringing one-click DeFi access to Indonesian crypto users, helping users earn up to 15% APY from their crypto assets.
To satisfy Indonesia’s cryptocurrency curiosity, Pintu Academy provides in-depth education on the technology behind cryptocurrencies and blockchain, the fundamentals behind cryptocurrency trading, and strategies for managing risk and investing sustainably. Seminars and joint initiatives with the Indonesian government have made Pintu one of the best-known crypto companies in the country.
Since leading Pintu’s Series A investment, we have been working closely with Pintu’s CEO and founder, Jeth Soetoyo, to advance the company’s mission to provide crypto access in Indonesia. Now that Pintu has grown to over 200 people, it’s great to see the whole team’s enthusiasm and belief in the future of cryptocurrency in Indonesia.
We are proud to partner with Lightspeed Ventures, Intudo Ventures and Northstar Group to continue to advance Pintu’s mission in Indonesia and beyond.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/pantera-capital-why-we-invested-in-pintu-again/
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