South Korea’s Top Crypto Exchange ‘Coinone’ Expands Operations to Indonesia
The third-largest cryptocurrency exchange of South Korea - Coinone - has announced expanding its wings to Indonesia by launching the ‘Coinone Indonesia’ which will be based out of Jakarta. While making this announcement, the company said that it will be the “first among the top cryptocurrency exchanges in Korea to enter the global market.”
Coinone Indonesia CEO, Alan Song said: “Coinone Indonesia wants to be the gateway that introduces people to the concept of blockchain and cryptocurrency. [We want to facilitate] access for users in Indonesia to have various types of digital assets or cryptocurrencies quickly and safely.”
Coinone also provides several crypto services like operating a “blockchain 4D zone” called Coinone Blocks which are consultation counters for walk-in customers.
Initially, the Indonesian trading platform of Coinone will allow users to trade in six different cryptocurrencies. The announcement read: “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.”
Apart from the above mentioned digital currencies, Coinone in Korea also allows the trading for Iota (XOT), Ripple (XRP) and Bitcoin Gold (BTG).
Preregistration for Coinone Indonesia has already started from Monday, April 16, and will last till a month’s time. Pre-registration process currently requires only the e-mail address. Pre-registered users will be able to avail the services starting May 24 while the exchange will officially launch in June.
The exchange also allows foreigners to register on their platform. It writes: “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.”
Additionally, the exchange says that it will also be hosting an airdrop event for “selected 10,000 pre-registrants.” It further mentions that “Up to 10 million rupiah (appx. 800,000 won) worth of cryptocurrency will be granted through a lottery of 10 thousand registered customers. 10 free coupons are provided upon completion of the self-evaluation process.”
The Coinone Indonesia specifically mentions 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.”
A report from Korean news source The Investor reads that “Coinone expects many cryptocurrency and blockchain-backed business opportunities in Indonesia, as the country’s economy is showing rapid growth with a population of 260 million. It has also shown rapid development in IT and financial technologies.”