Indonesia’s huge crypto market
Binance remains the world’s largest crypto exchange by trading volume. Although the exchange already has Indonesian users, it has not fully explored the country’s market potential. The large population and the government’s openness towards crypto could help significantly in making Binance a huge crypto presence.Already, Southeast Asian financial institutions are exploring ways to enter the cryptocurrency space to harness their digital capabilities fully. The largest lending firm in the region, DBS Holdings LTD is one of such financial services providers. Its digital arm, DBS Digital Exchange, offers its clients security token offerings and cryptocurrency trading.Binance has a major presence in other countries as well. Binance Australia recently became the first crypto exchange for embarking on ESG reportage. Conversely, the French government has given the exchange a red light, asking it to focus on AML compliance before expanding to the country. Before now, Binance had bought a stake in Indonesia’s largest cryptocurrency trading exchange, Tokocrypto. With the friendly environment in Indonesia, Binance Holdings LTD. could become a key player in the Indonesian cryptocurrency market and further secure its place in the global crypto space.
