South Korean Exchange Coinone Announces Plans to Launch in Indonesia

South Korean Exchange Coinone Announces Plans to Launch in Indonesia

The third largest cryptocurrency exchange, Coinone, announces plans to launch another exchange in Indonesia according to reports from its site on April 16.

The new exchange opens for preregistration on April 16. Its official launch is set to open in June. This new exchange will initially support s 6 cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ethereum classic, Litecoin, and Quantum.

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Individuals located outside of Indonesia will be able to utilize the exchange after the preregistration.

This overseas expansion will mark Coinone as being the first among the top cryptocurrency exchanges in Korea to expand out to the global market. The exchange explained the reason it chose Indonesia for this move was due to the countries potential growth within the Fintech industry.

Indonesia has been known to have a relatively tough crypto regulatory climate. On January 2018 its central bank warned citizens against buying selling or trading cryptocurrencies.

In October 2017 banks reiterated that it does not recognize Bitcoin as a legal means of payment causing to domestic crypto exchanges to shut down voluntarily. Amongst this news, Coinone sees potential where others do not.

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