FinTech news in SerMorpheus category

While Indonesia isn’t the most crypto active in the region — total crypto value received was less than half of Thailand’s from July 2021 to June 2022, according to Chainalysis — the country is thought to hold huge potential for web3 adoption, thanks to a young and sizable (270 million) population as well as a vibrant Web 2.0 industry. As such, SerMorpheus recently closed a $2.5 million seed round to create a user-friendly platform for businesses to create NFTs; end users, on the other hand, can buy and trade digital assets on the platform with the local currency rupiah. The platform is still manually onboarding businesses and brands — so far 25 of them, including Indonesia Comic-Con — but the next step is to make SerMorpheus as automated as creating a Facebook page. Its seed round was led by Intudo Ventures, with participation from 500 Global, Febe Ventures, AlphaLab Capital, BRI Ventures and Caballeros Capital.