In the latest Bitcoin news, we have the first billion dollar unicorn company from Indonesia in the focus – mainly for its interest in one Bitcoin wallet from the Philippines. Coins.ph is the name of the local crypto wallet and payments platform that Go-Jek has acquired, right at the time when it is developing its beta access to users in the waiting list for Coins Pro, which is its in-development cryptocurrency exchange.
Go-Jek has made an investment in the fintech firm – according to some unofficial sources, the transaction cost was $72 million which is the largest to date. Go-Jek is known in Indonesia since its launch in 2011 as one of the fastest rising companies and a ride-sharing platform which has been able to process over 6 million transactions on a monthly basis.
On the other hand, the Philippines-based Bitcoin wallet Coins.ph was launched in 2014 and has attracted $10 million from investors through the two venture and two Series A funding rounds.
As some of the local sources mentioned, the Indonesian tech unicorn has been attempting to penetrat the Southeast Asian ride-sharing market but also had interest in the Philippines, hence the decision to acquire a Bitcoin wallet of Coins.ph’s size.
Go-Jek’s app is a one-stop platform for ordering food and various services while conducting online payments. Because of the innovative tech, it is seen as a pioneer in the ride-sharing space and is believed to grow and expand to other countries in the region as well.
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