Tokocrypto, Indonesia’s #1 crypto asset exchange and blockchain ecosystem partners with Avarta , creator of biometric security-based crypto wallet
Tokocrypto & Avarta Eye Indonesian Crypto Market
It has been announced that Avarta, developer of a next-generation fingerprint safety crypto wallet and identification layer, has engaged into a strategic cooperation with Tokocrypto, Indonesia’s leading cryptocurrency exchange and blockchain ecosystem.
Together, Avarta and Tokocrypto will engage on a variety of mutually beneficial company development projects, expertise exchange, and combined marketing activities with the goal of bolstering each other’s visibility in important crypto and blockchain industries.
Avarta’s wallet Trust Score authentication and security solution, developed by Tokocrypto, will be promoted within Indonesian cryptocurrency users by Tokocrypto. Its research and development technology team will assist Avarta in customizing its platform to meet the specific regulatory requirements of Indonesia’s rapidly expanding marketplace, where more than 11.2 million cryptocurrency investors overpower the 7.3 million people who own traditional stocks and shares in the country.
Avarta will also engage with Tokocrypto as part of the agreement, with the goal of increasing cryptocurrency use and awareness across the country. As part of the agreement, Avarta will collaborate with Tokocrypto to build a combined marketing strategy to raise awareness of Avarta’s crypto wallet and identification capabilities among Indonesia’s Web3 community members. In tandem, Avarta will publish T-Launchpad as the first product on the launchpad, with a public auction slated for the 24th of May 2022 and an initial distribution order (IDO) scheduled for the 8th of June 2022.
Avarta is the developer of a cryptocurrency wallet that employs advanced security technology and a Trust Score method to give blockchain users with an unmatched layer of identity identification while using DeFi and Web3 apps on the Internet of Things. Permissionless technology complies with regulations, enabling consumers to conduct electronic transactions from any smart phone with trust while maintaining military-grade security.
Avarta has been chosen as one of the first attendees in Tokocrypto’s Sembrani Blockchain Accelerator program, which is also backed by BRI Ventures, the venture capital arm of Indonesia’s largest government-owned banks. Tokocrypto’s Sembrani Blockchain Accelerator program is also supported by BRI Ventures.
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The Royal Highness Prince Abdul Qawi of Brunei Darussalam, Chairman of Avarta and its Chief Operating Officer Hong Loon, formally signed the Memorandum of Understanding with Tokocrypto CEO Pang Xue Kai and CSO Chun Ying at a signing ceremony in Singapore. Prior to formalizing their partnership, the two firms had enjoyed a beneficial working relationship, with Tokocrypto serving as a major shareholder in Avarta Inc.
Pang Xue Kai, CEO of Tokocrypto, said: “As the first regulated crypto asset exchange in Indonesia, compliance, trust and security have always been our utmost priority, and it’s remarkable to see how the DeFi landscape unfolds and brings about important innovations surrounding these topics such as Avarta.”
Matthew Ainscow, CEO of Avarta, said in a statement: “We are excited to be working with the leading exchange in Indonesia and one of the largest in South East Asia. Working together, we aim to ensure both the highest levels of security and trust in the marketplace.”
The Royal Highness Prince Abdul Qawi of Brunei Darussalam, the Chairman of Avarta, commented: “Indonesia is one of the fastest growing Web3 markets globally. Avarta is excited to be partnering with TokoCrypto, one of the most prominent names in Indonesia to grow the ecosystem together.”
Avarta is a patent-backed next-generation data authentication layer that includes a fingerprint wallet aggregate and an unique cross-chain credit rating system. Users of the Avarta Wallet may experience safe keyless crypto at their fingertips, with their own biometrics and device behavior serving as the entry point and private keys to their wallets, eliminating the need to memorize and securely preserve large seed phrases. Based on their Avarta credit score, Avarta customers will also get access to distinct crypto financial products like as mortgages with a lower margining rate.
