Cryptos are new battleground for Indonesia's tech investors
There are four to five million registered currency traders in Indonesia, so the market looks likely to grow
Jakarta
IN April this year, Tokocrypto - the first registered cryptocurrency exchange in Indonesia - launched its own token called TKO valued at US$50 million. On the first day of trading, the token surged to a high of US$1 billion in market cap as retail investors snapped it up in droves.
The price for each token rose from just 10 US cents to US$10, and although the price has since come down sharply to about US$1.80, the initial surge reflected the strong retail investor interest in crypto-currencies, one of the fastest growing asset classes in Indonesia.
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