Major Korean Exchange Launches in Indonesia with Six Cryptocurrencies

One of South Korea’s top three cryptocurrency exchanges, Coinone, is launching an exchange in Indonesia. Initially, six cryptocurrencies will be supported but the exchange plans to add more coins. Coinone is also launching an airdrop event for 10,000 pre-registrants.

Also read: South Korea Takes Steps To Regulate Digital Currencies

Coinone Launching in Indonesia

Coinone announced on Monday that it is launching Coinone Indonesia in Jakarta, “making [it] first among the top cryptocurrency exchanges in Korea to enter the global market,” the company wrote.

The South Korean exchange is the third-largest crypto exchange in the country after the Kakao-backed Upbit and Bithumb. Its 24-hour trading volume is $63,140,495 at the time of this writing, according to Coinmarketcap. The company also operates a “blockchain 4D zone” called Coinone Blocks, with walk-in customer consultation counters.

The CEO of Coinone Indonesia, Alan Song, elaborated:

Coinone Indonesia wants to be the gateway that introduces people to the concept of blockchain and cryptocurrency, and facilitates access for users in Indonesia to have various types of digital assets or cryptocurrencies quickly and safely.

About Coinone Indonesia

According to the company’s announcement, “Coinone Indonesia offers the following six cryptocurrency trades: bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), quantum(QTUM), and shortly thereafter [we] will continue to add other coins according to its high technological standards of examination.” In addition to the aforementioned six cryptocurrencies, Coinone in Korea also supports the trading of ripple (XRP), iota (IOT), and bitcoin gold (BTG).

Pre-registration for Coinone Indonesia begins on April 16 and will last a month; only email addresses are needed. While the new exchange will begin service on May 24 for pre-registered users, it will officially launch in June. The exchange explained:

Foreigners who are not Indonesian nationals can also apply…after the pre-registration period, foreigners need a separate examination process through the passport and non-face-to-face certification process.

There will also be an airdrop event offered to “selected 10,000 pre-registrants,” Coinone noted. “Up to 10 million rupiah (appx. 800,000 won) worth of cryptocurrency will be granted through a lottery of 10 thousand registered customers,” the exchange wrote, adding that an additional “10 free coupons are provided upon completion of the self-evaluation process.”

Specifically, Coinone Indonesia’s website states that the “lucky 10,000 persons who applied for pre-registration will be chosen to get trading fee [of] 0.00% coupon and [the] Qtum Airdrop.”

Last week, news.Bitcoin.com reported that 23 cryptocurrency exchanges, including Coinone, have agreed to self-regulate in Korea.

What do you think of Coinone launching a crypto exchange in Indonesia? Let us know in the comments section below.

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