08-31-2022 icon

Indonesia’s Largest Technology Company GoTo Buys Local Digital Trading Firm 

By Lucy Adegbe

According to a recent report by REUTERS, Indonesia’s giant tech company PT GoTo Gojek Tokopedia Tbk has stepped into the digital currency space by buying local trading protocol Kripto Maksima Koin

GoTo highlighted to the stock exchange regulator that the total of 124.84 rupiahs ($8.38 million) invested was able to purchase 100% of the shares that belonged to the trading platform. 

“We believe that blockchain technology may play a mainstream role in the future of finance,” GoTo further underlined.

The tech company which emerged from the integration of the e-commerce outlet Tokopedia and the Gojek app in 2021 realized $1.1 billion from a vividly observed initial public offering. It further alleges that its assets account for about 2% of the nation’s gross domestic product which sums up to $ 1 trillion. 

Reports noted that the firm aims to be a “diverse money management hub.”

On the other hand, trading protocol Kripto Maksima is enlisted among the 25 digital assets companies with an operation approval from Indonesia’s Commodity Futures Trading Regulatory Agency, referred to as Bappebti.

Tech statements quoting Bappebti disclosed that the regulatory body has suspended further issuance of operations licenses to digital companies. The objective of this pause is to focus on improving exchange activities to be more “transparent, efficient, and effective.”

GoTo withheld further comments on the agendas for its recently purchased establishment.