Crypto exchange Cryptofitrex raised $13 million

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Crypto Regulation
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Cryptocurrency exchange CryptoFitrex raised $13 million in a Series B funding round. Pantera Capital, Lightspeed India Partners, Intudo Ventures and Northstar Group participated in the round.

The company will use the funds raised to continue growth in Indonesia, develop DeFi services, NFT and expand its workforce to 200 people over the next two years.

CryptoFitrex is one of the top 3 local exchanges, competing with Indodax and Tokocrypto. The number of its users exceeds 4 million.

Earlier CryptoFitrex raised $6 million in a Series A funding round.

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Graeme Massie

Graeme is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Graeme believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.