GoTo purchased PT Kripto Maksima Koin by acquiring 100% of available shares.
The tech giant paid about $8.38 million for the acquisition to become a money management firm.
GoTo reportedly accounts for 2% of Indonesia’s total GDP.
The biggest technology firm in Indonesia, GoTo Gojek Tokopedia Tbk (GoTo), entered the Bitcoin and cryptocurrency space by acquiring local exchange PT Kripto Maksima Koin, per a report from Reuters.
GoTo acquired ownership of the exchange by purchasing 100% of available shares for 124.84 billion rupiah ($8.38 million). The tech firm reportedly stated the acquisition was part of a larger objective to become "a diverse money management hub."
“We believe that blockchain technology may play a mainstream role in the future of finance," GoTo said, per the report.
GoTo, which boasts a market cap of over $25 billion after raising $1.1 billion from its initial public offering (IPO), did not detail its future plans for the newly acquired exchange.
PT is among a...
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