Synopsis: Every first and third Monday of the month, The Business Times breaks down useful financial tips.

This week's episode looks at what it takes to start a crypto or blockchain-based business. Understand the foundational technology of crypto in this episode, which is brought to you by Withers KhattarWong: https://www.withersworldwide.com/en-gb/

BT's digital editor Chris Lim hosts Pang Xue Kai, co-founder of Tokocrypto, a cryptocurrency exchange based in Indonesia.

He explains the following:

1. What were the key challenges when starting a cryptocurrency exchange? (1:12)

2. Key challenges faced when starting Tokocrypto in Indonesia, and common challenges overseas (2:10)

3. Being compliant or even overly compliant, to legitimise a crypto exchange and make it mainstream with formative legal regulations (2:42)
4. Key factors you need to know to start a crypto or blockchain-based business in emerging markets (5:05)
5. Relating better to the local people of that market: In Indonesia, how showing that cryptocurrencies has characteristics similar to "digital gold" worked (5:38) 
6. Six steps of advice for listeners looking to start a cryptocurrency exchange or crypto-based business (7:35)

Withers Worldwide: https://bit.ly/3xiTFo0

Produced by: Chris Lim and Ernest Luis

Edited by: Adam Azlee and Hadyu Rahim

Follow BT Money Hacks podcasts every first and third Monday of the month, and rate us on:

Channel: http://bt.sg/btmoneyhacks

Apple Podcasts: http://bt.sg/oeXe

Spotify: http://bt.sg/oeGN

Google podcasts: http://bt.sg/oeGP

Website: http://bt.sg/moneyhacks

Feedback to: podcast@sph.com.sg

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

---

Discover more BT podcast series:

BT Mark To Market Podcast on: http://bt.sg/btmark2mkt

WealthBT Podcast on: http://bt.sg/btwealthbt

BT Podcasts on: https://bt.sg/pcOM