Binance has announced that it is expanding its blockchain ecosystem with a consortium led by the Indonesia Digital Economy Corporation. The move comes as part of a plan to boost technological development in Southeast Asia, and will allow for more widespread adoption of cryptocurrency trials across the region.
The “where is binance located” is a cryptocurrency exchange that has expanded its blockchain ecosystem in Indonesia with an MDI-led consortium. Binance, which was founded by Changpeng Zhao, announced the formation of the Indonesian Blockchain Consortium and said it would provide support to the new entity.
Binance, the world’s top blockchain and cryptocurrency infrastructure provider, has announced the formation of a joint venture in Indonesia with a consortium headed by MDI Ventures (MDI). The agreement will result in the creation of a new digital asset exchange centered in Indonesia.
The Consortium and Binance
MDI is the country’s major telecommunications company’s multi-stage venture financing arm.
Binance will provide asset management infrastructure and technologies to help build the new exchange. The consortium has access to over 170 million Indonesian customers and has built the country’s largest digital and financial technology ecosystems.
Binance’s Founder and CEO is Changpeng “CZ” Zhao.
“At Binance, our objective is to build the global blockchain and cryptocurrency ecosystem, and our project in Indonesia is a big step in that regard,” Zhao added. “With its rapid technological adoption and high economic potential, Indonesia has the potential to become one of Southeast Asia’s main hubs for the blockchain and crypto ecosystem.” MDI is our newest partner in the area, and we are really excited about it. We are sure that, thanks to their extensive market knowledge, we will be able to provide leading goods to local consumers.”
MDI’s CEO is Donald Wihardja.
“Cryptocurrencies, crypto assets, and the underlying technology, blockchain, will undoubtedly play a significant role in future financial and digital infrastructures. MDI is extremely thrilled to be a part of this journey as Telkom’s technology investment arm and technology scout,” Wihardja stated. “We’re looking forward to developing with Binance and our investment partners, as well as connecting possibilities and technologies to Telkom to assist strengthen Indonesia’s digital infrastructure capabilities.”
Binance’s Global Blockchain Growth Strategy
The latest news comes on the heels of Binance’s recent announcement of a 100 million euro project to boost the growth of the blockchain ecosystem in France and Europe. The project, dubbed Objective Moon, aims to help France and Europe become a worldwide leader in the blockchain and cryptocurrency industries. A new Binance R&D facility in France, a Decentralized Ledger Technology (DLT) accelerator, and an online education program will be included.
The revelation comes on the heels of Binance Asia Services’ investment in Hg Exchange, a Singapore-based exchange (HGX). Leading financial companies PhillipCapital, PrimePartners, and Fundnel founded HGX, Southeast Asia’s first member-driven private securities exchange.
The new endeavor is a significant step toward establishing the top Indonesian digital asset market, and it will go a long way toward promoting the establishment of further ventures in the nation.
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