Crypto asset platform Pintu recently raised $113 million in a Series B funding round. It is a licensed firm in Indonesia and was founded in 2020 by Jeth Soetoyo. Like other exchanges, Pintu is also offering investment services in Bitcoin and other cryptocurrencies. With this latest funding round, their goal is to expand the list of supported tokens and add more features. The Series B round was sled by Intudo Ventures, Pantera Capital, Northstar Group, and Lightspeed.
About crypto asset platform Pintu
Pintu is based in Indonesia and has been licensed by CFTC (Commodity Futures Trading Regulatory Agency), which is under the Ministry of Trade. Their primary offerings are Bitcoin, Ethereum, and around 50 other cryptocurrencies. The platform’s website indicates around 2 million installations and an overall rating of 4.6 out of 5 on Appstore and 4.1 out of 5 on play store. The minimum investment amount on the platform is Rp11,000 which is roughly equal to Rs 60.
The founder of Pintu, Jeth Soetoyo, said that crypto adoption in Indonesia is still in its early stages, and it’s important to keep educating users so that the growth continues. Reports from Cointelegraph suggest that only 4% of Indonesians are invested in crypto right now, which is still an improvement in the last 2 years. Pintu has grown quite a lot during this period after its launch, which is probably due to its proactive approach. It has features like staking, which is very attractive to investors.
The latest funding round will also help them set up an educational program called Pintu Academy that will help spread awareness about crypto. They will discuss what opportunities the industry brings and the risks that come alongside it.
The platform’s security
Pintu is backed by a lot of prominent names. Some of them are mentioned above, and a few more are FTX and Coinbase Ventures. With being registered and licensed, Pintu also supports two-factor authentication and works with Fireblocks to offer secure custody of user holdings. Fireblocks claims to be one of the best blockchain security service providers for crypto custody. So, the security of Pintu also seems promising.
What are your thoughts as crypto asset platform Pintu raises $113 million in the Series B round? And do you think they will be able to survive the bear market? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: US Labor department faces lawsuit over unlawful crypto guidance.
