Robinhood set to enter Indonesia, targeting 17M crypto traders
Robinhood acquired an Indonesian brokerage and digital asset trading firm to access a market with 17 million crypto investors.
Crypto and stock trading platform Robinhood is set to tap into Indonesia’s burgeoning cryptocurrency trading market after an agreement to acquire two local fintech companies.
In an announcement on Sunday, Robinhood said it has entered into agreements to acquire Buana Capital, an Indonesian brokerage, and PT Pedagang Aset Kripto, a licensed Indonesian digital financial asset trader, “marking our entry into one of Southeast Asia’s fastest-growing markets.”
It said that Indonesia has more than 19 million capital market investors and 17 million crypto investors, making it a “compelling market for equities and crypto trading.”
