CMC News

#Robinhood Acquires #Indonesian Firms To Access 17M Crypto Traders

#Robinhood has entered agreements to acquire an Indonesian brokerage and licensed digital asset trader, marking the company's entry into Southeast Asia's largest cryptocurrency market with 17 million investors.

The trading platform announced deals to purchase Buana Capital, an Indonesian brokerage firm, and PT Pedagang Aset Kripto, a licensed digital financial asset trader. Indonesia represents one of Southeast Asia's fastest-growing markets with over 19 million capital market investors alongside its substantial #crypto investor base.

Acquiring an existing brokerage provides Robinhood with regulatory compliance and established market presence, while purchasing a licensed digital asset platform accelerates access to offering cryptocurrency products. Patrick Chan, head of Asia at Robinhood, described Indonesia as an exciting market for furthering the company's mission to democratize finance.

Robinhood plans to continue serving Buana Capital customers with Indonesian financial products while gradually introducing its signature brokerage and cryptocurrency #trading services. The company aims to connect Indonesian customers to U.S. equities, cryptocurrencies, and additional products at scale over time.