A New Era for Tokocrypto
Tokocrypto, Indonesia’s leading cryptocurrency exchange and a proud member of the Binance group, has achieved a significant milestone by securing a license as a Physical Crypto Asset Trader (PFAK) from the Commodity Futures Trading Regulatory Agency (Bappebti). This achievement not only highlights Tokocrypto’s commitment to regulatory compliance but also marks a pivotal moment in the evolution of Indonesia’s crypto-asset industry.
The journey to obtaining this license began in 2019 when Tokocrypto registered as a Prospective Physical Crypto Asset Trader (CPFAK). Over the years, the company has navigated a rigorous licensing process, meeting all the stringent requirements set by Bappebti. This PFAK license now grants Tokocrypto the authority to operate as a fully licensed physical crypto asset trader, a testament to its dedication to regulatory excellence.
Building Investor Trust
The PFAK license is more than just a regulatory achievement; it is a significant step toward strengthening investor trust and confidence. By meeting Bappebti’s strict licensing standards, Tokocrypto ensures that its trading platform is secure, transparent, and reliable. This commitment to high standards safeguards investor interests and showcases Tokocrypto’s dedication to providing top-notch services to its users in Indonesia.
Richard Teng, CEO of Binance, congratulated Tokocrypto on this remarkable achievement. He emphasized that this milestone is a testament to the exchange’s dedication to regulatory excellence and its vision of fostering a robust and transparent crypto ecosystem in Indonesia. Teng reiterated Binance’s commitment to fully supporting Tokocrypto in its mission to drive the growth of the Web3 ecosystem in the region.
Leadership and Vision
Yudhono Rawis’ Perspective
Yudhono Rawis, CEO of Tokocrypto, highlighted the importance of the PFAK license in realizing the company’s vision of becoming Indonesia’s leading crypto-asset trading platform. He noted that over the past two years, Tokocrypto has continuously strengthened its commitment to maintaining high standards of regulatory compliance. Rawis proudly stated that Tokocrypto is now the third exchange to receive the PFAK license in Indonesia, a market with 35 prospective crypto exchanges registered with Bappebti.
Rawis emphasized that obtaining the PFAK license is an essential part of Tokocrypto’s strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia. This achievement ensures that Tokocrypto can provide the best services to its customers, further solidifying its market leadership.
Binance’s Support
Binance’s continuous support has been instrumental in Tokocrypto’s journey. The collaboration between the two entities positions Tokocrypto to advance its market leadership in Indonesia. Binance’s commitment to fostering a robust and transparent crypto ecosystem aligns perfectly with Tokocrypto’s vision, ensuring a bright future for the exchange.
Tokocrypto’s Growth and Future
Impressive Growth Metrics
This year has been remarkable for Tokocrypto, with its user base surpassing 4.5 million. The exchange has also seen a 138% growth in monthly average trading volume, highlighting the consistent growth and increasing trust in Tokocrypto’s services. These impressive figures underscore the exchange’s ability to attract and retain users, further solidifying its position as a market leader.
Looking Ahead
As Tokocrypto continues to grow, Binance remains steadfast in its support. The future looks promising for Indonesia’s crypto-asset industry, with Tokocrypto leading the way. The exchange’s commitment to regulatory compliance, investor trust, and market leadership ensures that it will continue to thrive in the ever-evolving crypto landscape.
Conclusion
Tokocrypto’s achievement of securing the PFAK license marks a significant milestone in its journey. This accomplishment not only strengthens investor trust but also positions Tokocrypto as a market leader in Indonesia’s crypto-asset industry. With continuous support from Binance and a commitment to regulatory excellence, Tokocrypto is well-equipped to drive the growth of the Web3 ecosystem in the region. The future looks bright for Tokocrypto and Indonesia’s crypto-asset industry as a whole.
