Cryptocurrency use is not only growing but is also near mass adoption, according to Indonesian cryptocurrency exchange Pintu founder and CEO Jeth Soetoyo.
“What I see in Indonesia is that there are a lot of people who may not be interested in investing in crypto, but they jump into NFTs, or some of these crypto gaming projects,” Soetoyo said during a panel discussion – ‘Rise of the crypto asset class in SE Asia: Will the frenzy last?‘ – at the Asia PE-VC Summit 2021.
Soetoyo was joined by Hemant Mohapatra, a partner at Lightspeed Venture Partners; and Alex Svanevik, the co-founder and CEO of the Singapore-based Ethereum analytics platform Nansen, at the discussion.
Pintu had landed $35 million in a Series A+ funding round led by US-based Lightspeed in August 2021, months after it raised $6 million in a Series A financing in May.
According to Nansen’s Alex Svanevik, the market today has learned about the proven applications of blockchains as opposed to the last bull cycle of the digital currency in 2017. Watch the video of the panel discussion on this emerging asset class.