Crypto Wallet Firm Fordefi Expands In Indonesia 

Fordefi, a crypto and decentralized finance wallet provider, is expanding into the Indonesian market by powering local cryptocurrency trading platform Pintu’s web3 wallet offering.

The move is part of Fordefi’s plan to introduce its offering, primarily used by institutional participants like Pantera Capital and Keyrock, to exchanges and fintech platforms serving retail investors.

Pintu’s 20 million users will be able to self-custody their digital assets and access decentralized applications with Fordefi’s tech in the backend.

The company aims to make crypto safer with its self-custodial wallet with multi-party computation (MPC) that divides a single private key among multiple parties, eliminating a single point of failure.

MPC wallets are harder to hack and make interaction with DeFi apps less risky. Fordefi has onboarded institutional investors such as Pantera Capital, DeFiance Capital, Keyrock, and Flare Network to its wallet offering and raised $10 million from venture capital investors led by Electric Capital earlier this year.

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