According to Tokenomy CEO Oscar Darmawan, there will be “considerable overlap” between the platforms’ exchange and token-launching businesses
European blockchain-based tokens platform Waves today announced a partnership with its Indonesian counterpart Tokenomy as part of its international expansion effort.
In a press statement, the companies stated that the partnership will enable compliant blockchain integration for large corporations in the Southeast Asian region by “opening up the vast … market for the custom tokens platforms.”
“We like the simplicity of Waves, since people can easily generate secure tokens and make fast transactions. Waves is also known to offer world-class customer service and personalised services to large companies, which can include deep customisation for their token usage and account managers,” Tokenomy CEO Oscar Darmawan explained the reason behind the partnership.
“Smart contracts will be active on Waves soon, and I see this is as a very valuable function for Tokenomy. By partnering with Waves, we believe Tokenomy can support token creation for many clients in the best way possible,” he added.
Darmawan also stated that there will be a “considerable overlap” between the platforms’ exchange and token-launching businesses; he also sees opportunities in the loyalty market.
Registered in the Switzerland, Waves has offices in Moscow and Amsterdam operated by “more than” 50 employees. Launched in June 2016, it has raised US$16 million through an ICO.
The company’s products and services include a multiple currency wallet and fundraising for projects through token-issuing.
This year, it plans to open offices in Berlin, London, New York and Singapore.
As for Tokenomy, the platform enables token exchange for purposes such as crowdfunding, loyalty points, or donations.
According to a press statement, the project just completed the final stage of its US$20 million crowdfund, selling 40,000 tokens for over US$2 million in three hours.
In addition to being CEO of Tokenomy, Darmawan is also known as CEO of Bali-based Bitcoin exchange platform Bitcoin.co.id, which recently raised an undisclosed funding round from East Ventures.
Indonesia is a potential yet challenging market for cryptocurrencies.
In addition to limited public awareness on the use of cryptocurrencies, since 2014 the government has also banned the use of cryptocurrencies as payment methods.
According to a Reuters report, it has been cracking down businesses that had been using Bitcoin for transactions in Bali, an Indonesian province where Bitcoin use is most popular.
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