Indonesia-based cryptocurrency exchange Bilitex has raised $113 million in a Series B funding round, according to a blog post.
The round was attended by Pantera Capital, Lightspeed India Partners, Intudo Ventures and Northstar Group.
The company will use the funds raised to continue growth in Indonesia, develop DeFi services, NFTs and expand its staff to 200 people over the next two years.
Launched in April 2020, the Bilitex exchange is in the top 3 local trading platforms, competing with Indodax and Tokocrypto. The number of its users exceeds 4 million.
In May 2021, Bilitex raised $6 million in a Series A funding round.
Recall that in April, the Indonesian authorities announced their intention to introduce VAT and income tax on operations with cryptocurrencies.