Tech

Indonesian crypto investment platform PintuID raises $ 35 million led by Lightspeed India

PintuID, Indonesia’s crypto investment platform focused on mobile phones, has raised $ 35 million in a funding round led by Lightspeed India.

Series A1 funding rounds show that cryptocurrencies are shifting, becoming more than speculative trading assets and entering the realm of institutional-class assets, Lighspeed said.

PintuID works like any other crypto wallet you already have on your mobile phone. You can buy, sell and bid on various coins while monitoring market trends.

Indonesia has 33 million young crypto users and more than 55 million electronic wallet holders. With this investment, PintuID, which boasts the region’s strongest market brand and best user experience, is trying to capture this growing market, especially as interest in cryptocurrencies has increased since last year.

The cryptocurrency market, not due to weakness, is on a tremendous growth trajectory compared to last summer, with many new coins emerging in the coming months. Just about two months ago, Bitcoin reached its maximum and traded at over $ 64,000. However, this was followed by a massive collapse of the market, with billions of people disappearing from the market within a few weeks.

Now the market is recovering and if crypto enthusiasts can believe, “Bullan” has begun again.

Lightspeed believes that cryptocurrencies are the way forward and has invested in more than 15 companies in this sector.

India has also seen many new companies in the field of cryptocurrencies, including things like Coinswitch Kuber. Raised $ 25 million from Tiger Global earlier this year. In addition, polygon, which is India’s unique cryptocurrency, Market capitalization of $ 10 billion In mid-May, it raised the interest of national investors. The country is also pondering the idea of ​​digital rupees as the RBI continues to argue that it has concerns about technology.
However, Coinbase, the largest cryptocurrency platform in the United States, Published This year. Therefore, with the advent of platforms like PintuID, markets that are still keeping up with trends can spend an easier time.

Indonesian crypto investment platform PintuID raises $ 35 million led by Lightspeed India

Source link Indonesian crypto investment platform PintuID raises $ 35 million led by Lightspeed India

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