The company states that the arrangement is consistent with its goal of developing into "a diverse money management center," and that this goal will be served by the arrangement.

The industry of digital assets has seen significant growth in popularity among Indonesians, in spite of the unfavorable attitudes taken by the country's central bank as well as certain local Islamic organisations. According to a survey by Gemini, this nation holds the position of global leader in terms of the utilization of cryptocurrencies, sharing the top spot with Brazil.

GoTo Enters the World of Cryptocurrency

Reuters reports that GoTo has acquired a cryptocurrency platform by paying around $8.5 million to acquire 100% of the shares outstanding in the cryptocurrency exchange PT Kripto Maksima Koin.

The company, which only a few short months ago had an initial public offering that brought in $1.1 billion, is of the opinion that blockchain technology will play an important part in the "future of finance." GoTo has not disclosed any new intentions, despite the fact that the agreement is in place.

One of the 25 cryptocurrency platforms that have been given the green light by Indonesia's Commodity Futures Trading Regulatory Agency is PT Kripto Maksima Koin (known as Bappebti).

GoTo was not the only platform that piqued the nation's interest in cryptocurrency platforms. The largest cryptocurrency exchange in the world, Binance, has made public its intention to form a strategic partnership with the Hartono brothers, whose family is the wealthiest in Indonesia, before the year 2021 comes to a close. They all had the same goal in mind, which was to establish a digital asset business in the nation.

Binance then strengthened its footprint in Indonesia by collaborating with MDI Ventures a few days later after it was established there. This latter enterprise is a multi-stage venture capital firm that is funded by Telkom Indonesia, which is the largest telecom operator in the country.

"We are ecstatic to announce that MDI will be joining our roster of partners in the region. "With their extensive experience in the business, we are certain that we will produce top products for people in the local area," Changpeng Zhao, the CEO of Binance, stated at the time. ”

New Highs for the Rate of Cryptocurrency Adoption

According to a survey that was carried out in April of this year by the cryptocurrency platform Gemini, which is situated in the United States, Indonesia and Brazil are the indisputable leaders in terms of the adoption of cryptocurrencies. 41% of respondents interviewed in both countries admitted to having at least some of their wealth invested in the asset class.

In spite of the fact that many Islamic institutions hold hostile attitudes against commercial activity, the statistics remain high. In November, the National Ulema Council (MUI) issued a statement advocating for the prohibition of the use of cryptocurrencies, citing Shariya law as their authority. The leader of the organization, Asrorun Niam Soleh, has asserted that people should steer clear of bitcoin and alternative cryptocurrencies since they are riddled with "uncertainty, wagering, and damage."

At the beginning of the year 2022, the Tarjih Council and the Central Executive Tajdid of Muhammadiyah both issued similar warnings, declaring that cryptocurrencies should be considered "haram" (or forbidden by God).

The position of the Bank of Indonesia, which is opposed to the asset class, is similar. Earlier this year, the organization made a commitment to "fight" digital assets that it asserts are causing harm to the nation's financial network by launching a central bank digital currency (CBDC).

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