Binance joins the rising tide in Indonesia by translating website to Indonesian

23 Feb, 2019 | Updated: 23 Feb, 2019
by Fifi Arisandi
News
Binance joins the rising tide in Indonesia by translating website to Indonesian

Binance targets the Indonesian market, started with Binance Academy's content translation to the Indonesian language. 

It doesn’t take long for Binance to join the rising tide in Indonesia. Following the announcement from the Indonesian government on the legalization of cryptocurrency last week, Binance Academy announced the launching of the Bahasa Indonesia version of their service.

Read more: Indonesia officially legalizes cryptocurrencies

At least 80 articles have been translated by Binance staffs and contributors, most of which contain crypto key products and terms.

According to NewsBTC, the already translated content represents about 10% of the website content, which has a total of 726 articles, videos, glossary items, and other forms of media.

Quoting Binance chief growth officer, Ted Lin, “Binance Academy’s expansion to offer Indonesian content reaffirms Binance’s strong commitment to advancing crypto education through quality, unbiased knowledge sharing that is freely accessible to all.”

Lin acknowledged Indonesia as “key emerging market” in finance and cryptocurrency, claiming that there are actually more Bitcoin investors than stock investors in the country, 1.5 million compared to 1.18 million in numbers.

“It would be remiss to disregard this booming market,” he said.

He added that blockchain would gain traction in Indonesia, sooner or later, since it offers payment ecosystems that are more cost-efficient, non-censorable, decentralized, and quicker than traditional mediums, like the bank.

Despite the recent good news from the country’s Commodity Futures Trading Regulatory Agency (Bappebti), cryptocurrency still has long way to go to enjoy a breezy ecosystem in Indonesia.

As previously reported by Chepicap, the minimum deposit set for crypto exchanges is considered “too big” by existing players that it could instead hinder the growth of cryptocurrency in the country.

Read more: Indonesia welcomes crypto trading platforms that have $71.7M of capital

On top of that, the regulator also said that cryptocurrencies, like Bitcoin will not be used as a medium of exchange in the country, either online or offline.

Lastly, speaking on behalf the financial authority, Darmin Nasution, said that the government is open to facilitate cryptocurrency assets to become proper investment vehicles, but he ascertained that it will never replace the Indonesian rupiah in any ways.

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