Tokocrypto is Binancehas received a Physical Crypto Asset Trader (PFAK) license from the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti).
PFAK license Tococrypt Officially operating as a physical cryptocurrency trader.
Tokocrypto’s user base has grown to over 4.5 million this year, with average monthly trading volume growing by 138%, reflecting the platform’s steady growth and trust.
Binance CEO Richard Teng said:
“Binance is committed to fully supporting Tokocrypto’s mission to foster the growth of the Web 3.0 ecosystem in the region.”
Yudhono Rawis, CEO of Tokocrypto, added:
“Over the past two years, Tokocrypto has continuously strengthened its efforts to maintain a high standard of regulatory compliance. In the Indonesian market, there are 35 cryptocurrency exchanges registered with Bappebti, and we are proud to be the third exchange to obtain a PFAK license.”
This is a key part of our strategy to build a strong foundation for Indonesia’s crypto ecosystem and enable us to best serve our customers.”
In December 2022, Binance Acquired Tokocrypto carried out mass layoffs, with approximately 58% of its employees being let go.
Featured Image Credit: Free Pick
