South Korean Crypto Exchange Coinone Expands To Indonesia

Announcements, News | April 17, 2018 By:

South Korean crypto exchange Coinone is launching an exchange in Jakarta, Indonesia, making it first among the top crypto exchanges in Korea to enter the global market.

Coinone is the third-largest crypto exchange in South Korea after the Kakao-backed Upbit and Bithumb. Coinone Indonesia will be available for pre-registered users on May 24, and the official launch will take place in June. It will initially offer trading in six cryptocurrencies: bitcoin, Bitcoin Cash, ethereum, Ethereum Classic, Litecoin, and Quantum. Other cryptocurrencies will be added according to its examination standards.

Users based outside of Indonesia will also be able to use the exchange after the pre-registration period, which started on April 16. However, foreigners will need a separate examination process. There will also be an airdrop event offered to “selected 10,000 pre-registrants.”

With a population of 260 million, Indonesia has the largest population in Southeast Asia. Coinone said that the country will serve as a stepping stone for the company to make a foray into the global market. The exchange will actively cooperate with traditional financial sector and regulating authority in Indonesia to allow cryptocurrency and blockchain industries to settle down at an early stage and promote healthy growth in the country.

“Coinone Indonesia wants to be the gateway that introduces people to the concept of blockchain and cryptocurrency,” said Coinone Indonesia CEO Alan Song. “[We want to facilitate] access for users in Indonesia to have various types of digital assets or cryptocurrencies quickly and safely.”