Formerly the world's most expensive bank! Binance collaborates with Indonesia's Bank Central Asia, which even restricts employees from drinking water.

According to Bloomberg, the world's largest cryptocurrency exchange, Binance, is in talks to collaborate with Indonesia's largest private bank, Bank Central Asia (BCA), and the Indonesian telecommunications company, Telkom Indonesia. BCA's largest shareholders are the Hartono brothers, Budi and Michael Hartono, from Indonesia's wealthiest Hartono family. It is reported that BCA is known for strict cost control and efficiency improvement, with senior management issuing a policy to limit water consumption after discovering unfinished water on employees' desks after work hours.

According to a report by Bloomberg, the world's largest cryptocurrency exchange Binance is in talks with Indonesia's largest private bank, Bank Central Asia (BCA), and the Indonesian telecommunications company Telkom Indonesia for a potential collaboration. BCA's largest shareholders are the Hartono brothers, Budi and Michael Hartono, from Indonesia's wealthiest family. BCA is known for its strict cost control and efficiency measures, such as implementing a policy to limit the amount of water employees can drink after discovering unfinished water on their desks after work.

Indonesia, the fourth most populous country in the world, has many adults who are unable to access bank loans and other forms of formal financing. If the collaboration is confirmed, this would be Binance's second partnership with a crypto enterprise in Indonesia, following its collaboration with the crypto trading platform Tokocrypto.

However, both Binance and BCA have not provided a direct response to this news. Despite the Indonesian Ulema Council (MUI) considering cryptocurrencies to have characteristics of uncertainty, gambling, and harm, which are contrary to Islamic law and advocating for the prohibition of Muslims using crypto assets, the Indonesian government views the crypto market as an investment category and allows trading alongside commodity futures. By partnering with the largest private bank and telecommunications company in the country, Binance aims to establish a strong foothold in Indonesia.

In the first half of 2021, Binance has been under strict regulatory scrutiny in various countries and is now seeking to expand its development. Earlier, Binance's Singapore subsidiary acquired an 18% stake in the local securities exchange Hg Exchange. Additionally, Binance.US is in the final stages of completing a multi-million dollar financing round.

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