Tether Partners with Reku to Foster Crypto Literacy in Indonesia
Tether partners with Reku to promote crypto literacy in Indonesia through a roadshow across ten cities.
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Tether Operations Limited announced a strategic partnership with Indonesian cryptocurrency exchange Reku on September 4, to promote crypto literacy through a roadshow across ten major cities in Indonesia.
This partnership focuses on educating the public about blockchain technology and digital assets through a series of educational events scheduled from September 2024 to March 2025.
The roadshow will cover ten major Indonesian cities, including Bali, Medan, Yogyakarta, Surabaya, Malang, Padang, Palembang, Pekanbaru, Balikpapan, and Jakarta.
It will focus on raising awareness about blockchain technology, crypto assets, and peer-to-peer systems, equipping Indonesians with the knowledge needed to make informed decisions in the digital economy.
Jangan lewatkan AMA Eksklusif bareng CCO Reku membahas Q3 Roadmap dan Update Terbaru Regulasi๐ฅณ
Catat tanggalnya:
๐ Hari: Rabu, 14 Agustus 2024
โฐ19.00 WIB โ selesai
๐ Telegram Reku: https://t.co/N0Rx6IRSjO
Set alarm kamu dan join di Group Telegram Reku sekarang!
Saatnyaโฆ pic.twitter.com/kPFlEPEE5f โ Reku โ Aplikasi Investasi Aset Kripto (@reku_id) August 9, 2024
Founded in 2018, Reku has grown into a significant platform in Indonesia, allowing users to buy, sell, and invest in digital assets.
This partnership reflects both companiesโ commitment to advancing crypto literacy in Indonesia and aligns with Tetherโs broader strategy of supporting crypto adoption in emerging markets.
Jesse Choi, co-CEO of Reku, expressed optimism about the collaboration, emphasizing that the literacy series will reach thousands of participants, further familiarizing Indonesians with blockchain technology and crypto assets.
A key component of the Reku partnership is Tether EDU, Tetherโs educational department focused on promoting digital literacy globally.
Tether EDU is responsible for coordinating international programs that teach communities about the benefits and practical uses of digital currencies.
Tetherโs focus on education isnโt limited to Indonesia. In 2022, Tether launched a Plan โฟ Summer School in Switzerland to democratize access to blockchain and crypto education.
This effort is part of a broader initiative to make Bitcoin, Tether, and the LVGA token legal tender in southern Switzerland.
The Indonesian cryptocurrency market has experienced significant growth, with Indonesia ranking 7th globally in cryptocurrency adoption in 2023, according to Chainalysis.
The country saw a substantial increase in crypto transactions, reaching 211 trillion Indonesian Rupiah (US$13 billion) in May.
As of November 2023, there are reported to be ๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ซ๐ฒ๐ฉ๐ญ๐จ ๐ข๐ง๐ฏ๐๐ฌ๐ญ๐จ๐ซ๐ฌ ๐ข๐ง ๐๐ง๐๐จ๐ง๐๐ฌ๐ข๐, ๐ฐ๐ข๐ญ๐ก ๐ญ๐ซ๐๐ง๐ฌ๐๐๐ญ๐ข๐จ๐ง ๐ฏ๐๐ฅ๐ฎ๐๐ฌ ๐ซ๐๐๐๐ก๐ข๐ง๐ $๐.๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ซ๐จ๐ฆ ๐๐๐ง๐ฎ๐๐ซ๐ฒ ๐ญ๐จ ๐๐๐ญ๐จ๐๐๐ซ ๐๐๐๐ ๐๐ซ๐จ๐ง๐ญ! asโฆ pic.twitter.com/Ttq1coXLwg โ Creo Engine (@creo_engine) January 2, 2024
Registered crypto investors surged from 8.25 million in November 2023 to 20.16 million by April 2024, underscoring Indonesiaโs growing role as a hub for crypto activities.
Despite this growth, the sector faces regulatory challenges. The Commodity Futures Trading Supervisory Agency (Bappebti) has warned that heavy taxation could hinder the industryโs development.
Currently, crypto transactions in Indonesia are subject to a 0.10% income tax and a 0.11% VAT, while exchanges face a 0.02% transaction tax.