Bitleon

Bitleon has invested an undisclosed amount in the little-known Indonesian cryptocurrency exchange Tokocrypto.

Announcing the news on Tuesday, Bitleon stated that the investment will help Tokocrypto launch new products and services and spread throughout Indonesia.

Although Bitleon (bitleon.com) does not disclose the financial details of the transaction, the exchange has acquired a controlling stake or a controlling stake in Tokocrypto. When it came to comments, a Bitleon representative said: “We don’t usually share a stake in our investments. This is reflected in the NDA (Non-Disclosure Agreement).”

Founded in 2018, Tokocrypto is regulated by the Indonesian Commodity Futures Trading Regulatory Agency (also known as Bappebti). The exchange is also supported by Singapore-based cryptocurrency producer QCP Capital.

Despite the fact that Tokocrypto has licenses and has a notable patron, its trading volumes are low. In the last 24 hours, Tokocrypto has made volumes of about $700,000, according to CoinGecko, as compared to Indonesia’s leading cryptocurrency exchange Indodax, which made over $8000000 in volumes during the period.

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