Bitcoin.co.id raised funding from East Ventures

Bitcoin.co.id announced it has raised funding from East Ventures. The cryptocurrency exchange startup headquartered in Denpasar announced it has raised funding for unspecified amounts from East Ventures to continue the education mission in the Indonesian market and expand into Southeast Asian countries.

"We continue to educate and work on the Indonesian market and will start our expansion plans to various countries in Southeast Asia," said Bitcoin.co.id CEO Oscar Darmawan.

Tinuku Bitcoin.co.id raised funding from East Ventures

"I see the era of blockchain technology, such as bitcoin and ethereum is just beginning, still great potential in the future. I always believe this public technology is one of the answers to financial inclusion and access to the financial world," Darmawan said.

Bitcoin.co.id, founded in 2013 by Oscar Darmawan and William Sutanto, claims to be the largest bitcoin exchange in Southeast Asia. Startup serves bitcoin transactions and enlarges market share for other popular cryptocurrencies, such as Ethereum, Ripple and Litecoin.

"We look forward to innovating and investing more for this technology and seeing how blockchain is transforming our lives," said Managing Partner East Ventures, Willson Cuaca.

"Darmawan and team build products and markets. We believe blockchain will solve many problems, change the way we do business, reduce transaction costs, maintain integrity, accelerate verification and reduce single-point-of-failure with the concept of decentralization," Cuaca said.

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