Crypto exchange Binance and a consortium led by MDI Ventures will establish a joint venture focused on developing blockchain technology in Indonesia, the company said in a press release on Wednesday.
- The joint venture will create a new Indonesia-based digital asset exchange. Binance will provide infrastructure and support for the new exchange.
- MDI is the venture capital arm of Indonesia’s largest telecom company, Telkom Indonesia.
- Binance was reportedly in talks with PT Bank Central Asia, which is controlled by billionaire brothers Budi and Michael Hartono, and Telkom Indonesia, the country’s largest telecom operator, about a possible venture.