Avarta enters strategic partnership with Tokocrypto, eyes Indonesian crypto market

Avarta, a next-gen biometric cross-chain crypto wallet and security-based authentication layer, has announced a strategic partnership with Tokocrypto to bolster its presence in the fast-growing Indonesian crypto market.

Tokocrypto is the leading digital asset exchange and blockchain ecosystem in Indonesia and its collaboration with Avarta will offer both firms the foundation to penetrate the country’s crypto market. 

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According to a press release shared with Invezz, the strategic partnership gives Avarta and Tokocrypto a chance to explore development initiatives, exchange expertise and undertake joint marketing efforts.

The firm’s CEO Matthew Ainscow commented:

“We are excited to be working with the leading exchange in Indonesia and one of the largest in South East Asia. Working together, we aim to ensure both the highest levels of security and trust in the marketplace.”

Tokocrypto to help Avarta navigate regulatory space in Indonesian crypto market

In the arrangement, Tokocrypto will look to actively promote Avarta’s products across the Indonesian crypto market as well as in the compliance space.

It includes working towards further adoption of Trust Score, an authentication and cybersecurity feature.

The exchange will also offer its R&D team to help Avarta navigate the regulatory landscape around Indonesia’s crypto market.

Commenting on this, Tokocrypto CEO Xue Kai noted in a statement:

“As the first regulated crypto asset exchange in Indonesia, compliance, trust and security have always been our utmost priority, and it’s remarkable to see how the DeFi landscape unfolds and brings about important innovations surrounding these topics such as Avarta.”

Avarta to list on Tokocrypto’s launchpad

The two firms will also undertake joint marketing plans, with the intention of reaching out to Indonesia’s Web3 community. Indeed, as part of the broad entry into Indonesia, Avarta is set to be the first project to list on Tokocrypto’s T-Launchpad. The public launch is expected on 24th May 2022, while an IDO is slated for 8th June 2022.

These benefits are crucial in a country where over 11.2 million people invest in cryptocurrency compared to 7.3 million in traditional stocks and shares. 

Apart from Avarta Wallet, crypto users will benefit from financial services such as cheap collateralized loans.