Indonesia

Crypto’s rising popularity in Indonesia

• Cointelegraph: Gold-as-a-currency: Kinesis launches government-backed monetary… – April 2021
  Kinesis, a gold-backed monetary system based in the Cayman Islands, has launched a Sharia-compliant version of its product in Indonesia, setting the stage for wider acceptance of its solution in the world’s largest Muslim-population country. The product, PosGO Syariah, is described as the first mobile ecosystem business in Indonesia to be compliant with Islamic law. Delivered as a mobile application, PosGO is a digitized physical gold trading platform that also allows users to conduct real-time, peer-to-peer transfers of gold and fiat currency. The platform also offers a payment gateway and a “Gold Mecca” community savings program for the Hajj, the Islamic pilgrimage.
  
  
• Crpytonews: Indonesian Govt To Launch Crypto Exchange to Get a Piece of Crypto Pie – March 2021
  The Indonesian deputy minister of trade Jerry Sambuaga has announced that his ministry will launch its own crypto exchange in the near future. The initiative will allow the government to capture a share of the country’s booming crypto sector, with last year’s cryptoasset-related trade estimated to be worth about USD 4.44 billion, according to data cited by the deputy minister. “In the near future, maybe within the coming months, or maybe even next month there will be an exchange especially regulating and accommodating the trades of these crypto commodities,” Sambuaga said during a webinar on crypto, reported the local media outlet Tempo.co.
  
  
• Cointelegraph: Binance Invests in Major Indonesia Crypto Exchange Tokocrypto – May 2020
  Major cryptocurrency exchange Binance is cementing its presence in Indonesia, announcing an investment in a major domestic regulated exchange Tokocrypto on May 12. In 2019, Tokocrypto reportedly became the first Indonesia crypto exchange to seal regulatory approval from the country’s Commodity Futures Trading Regulatory Agency, also known as Bappebt