Today in Singapore During an MOU signing conference, Avarta’s Chairman, His Royal Highness Prince Abdul Qawi of Brunei Darussalam, and COO Hong Loon formally made a deal on the contract with Tokocrypto’s CEO Pang Xue Kai and CSO Chun Ying. Prior to forming their partnership, the companies had a beneficial connection, with Tokocrypto acting as a strategic investor in Avarta.
Tokocrypto is Indonesia’s top crypto-asset exchange and blockchain platform collaborated with Avarta a biometric security-based crypto wallet and authentication layer provider. The collaboration had multiple benefits with company development projects, expertise exchange, and cooperative marketing efforts to help each other strengthen their respective crypto and blockchain existence.
The Strategic Collaboration
Tokocrypto intends to educate Indonesian cryptocurrency users about Avarta’s wallet-based Trust Score authentication and cybersecurity solution. Its technology team will assist Avarta in customizing its platform to meet the unique regulations of Indonesia’s fast-growing crypto market, where more than 11.2 million cryptocurrency investors outnumber the 7.3 million people.
Pang Xue Kai, CEO of Tokocrypto, said in a statement that
As the first regulated crypto asset exchange in Indonesia, compliance, trust, and security have always been our most priority, and it’s remarkable to see how the DeFi landscape unfolds and brings about important innovations surrounding these topics such as Avarta.
The collaborative marketing strategy is to promote Avarta’s crypto wallet and authentication tools to Indonesia’s Web3 community. The main aim of this collaboration is to spread the adoption and awareness of cryptocurrency throughout the country. In the meantime, Avarta listed the first project on their launchpad, on the 24th of May 2022 for public sale with an IDO on the 8th of June 2022.
Tokocrypto’s Sembrani Blockchain Accelerator Programme, which is also funded by BRI Ventures, the venture capital arm of Indonesia’s largest government-owned banks, has chosen Avarta as one of the first participants.
His Royal Highness Prince Abdul Qawi of Brunei Darussalam, the Chairman of Avarta commented that
Indonesia is one of the fastest-growing Web 3.0 markets globally. Avarta is excited to be partnering with TokoCrypto, one of the most prominent names in Indonesia to grow the ecosystem together.
Avarta is a patent-backed next-generation data authentication layer that includes a biometric cross-chain wallet aggregator and a cutting-edge cross-chain credit score system. Users of the Avarta Wallet can enjoy secure keyless crypto at their fingertips, with their biometrics and device behaviour acting as the access point and private keys to their wallets. Avarta users will also have access to unique crypto financial products, such as loans with cheaper collateralization rates, based on their credit score.
Tokocrypto is a digital asset exchange that has been smashing records in terms of trading volumes and user registrations. It’s Indonesia’s most popular digital asset exchange and Fiat Gateway for DeFi Projects.