Key Points
- Tokocrypto member of the Binance group secures a full license in Indonesia.
- Tokocrypto user base surpassed 4.5 million in 2024, with monthly average trading volume up by 138%.
According to the latest reports from Binance, Tokocrypto secured a license as a Physical Crypto Asset Trader (PFAK) in Indonesia from the country’s Commodity Futures Trading Regulatory Agency (Bappebti).
Tokocrypto is Indonesia’s premier crypto exchange and a member of the Binance group.
This new achievement highlights Binance and Tokocrypto’s commitment to regulatory compliance and it also marks a key moment in the development of Indonesia’s crypto industry.
Tokocrypto’s Trajectory
Back in 2019, Tokocrypto registered as a Prospective Physical Crypto Asset Trader (CPFAK) and since then, it navigated a rigorous licensing process to meet all the necessary requirements for a fully licensed entity set by Bappebti.
Now, the PFAK license grants Tokocrypto the authority to operate as a physical crypto asset trader.
This license also means a step forward toward strengthening investor trust and confidence that showcases Tokocrypto’s commitment to offering secure, transparent, and reliable crypto-asset trading services for Indonesian users.
The license also ensures that crypto trading on the platform meets Bappebti’s strict licensing standards, safeguarding investor interests.
Binance’s CEO, Richard Teng, congratulated Tokocrypto on the achievement noting that this is a testament to the exchange’s dedication to regulatory excellence and its vision to foster a robust and transparent crypto ecosystem in the country.
He highlighted, as noted in the official announcement, that Binance is committed to fully supporting Tokocrypto in its mission to drive the Web3 growth ecosystem in the region.
The CEO of Tokocrypto, Yudhono Rawis, also highlighted the importance of obtaining the license in realizing Tokocrypto’s vision of becoming the country’s leading crypto platform. Rawis said that over the past 2 years, the platform has continuously strengthened its commitment to maintain high standards of regulatory compliance.
He also said that Indonesia has 35 prospective crypto exchanges registered with Bappebti, and their latest achievement is an essential part of the strategy to build a solid foundation in the crypto ecosystem in Indonesia while offering the best services to customers.
Tokocrypto’s Momentum
Tokocrypto had an impressive trajectory this year as well, managing to surpass 4.5 million users. Also, the monthly average trading volume grew by 138%.
These impressive numbers highlight the consistent growth and surging trust in its services this year.
Binance remains committed to supporting Tokocrypto and is looking forward to witnessing the growth and success of Indonesia’s crypto industry.
Recently, Binance Kazakhstan also marked a remarkable achievement for the industry.
