GoTo gets into crypto with Kripto Maksima Buy
Indonesian technology company Go to is getting into the cryptocurrency business – and hopes to diversify its services – with its purchase of local crypto exchange PT Kripto Maksima Koin.
Like Reuters reported On Monday August 29, GoTo acquired 100% of the shares of PT Kripto for 124.84 billion rupees ($8.38 million). The company told Reuters the purchase was part of its plan to transform itself into “a center for diversified financial management”.
“We believe blockchain technology can play a major role in the future of finance,” GoTo said in its statement.
The report says it is unclear what GoTo plans to do with the new company, which is one of 25 crypto exchanges that have been granted licenses by Indonesia’s futures trading regulatory agency. Citing agency data, Reuters noted that the crypto has grown in popularity in Indonesia, with trading volumes up more than 1,000% in 2021.
Last week, Tokopedia added a buy now, pay later (BNPL) option to the range of digital payment methods it uses. GoPayLater Cicil allows select Tokopedia customers to purchase on the company’s platform and pay in installments of one, three, six, or 12 months.
Read more: Indonesian e-commerce company Tokopedia adds BNPL option
“The enthusiasm of Tokopedia customers to transact using the [BNPL] almost tripled in 2021 compared to the previous year,” said Tokopedia Senior Vice President of Fintech and Payment Vira Widiyasari. “Going forward, we will continue to make life easier for Indonesians by increasing collaborations and ensuring greater integration within the GoTo ecosystem.”
GoTo said this new BNPL option will help it further grow its FinTech business and provide its customers with better user experience, convenience and financial inclusion.
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