Tokocrypto gets Physical Crypto Asset Trader license in Indonesia
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Loading... - Chang Jiandan
- 10 Sep 2024
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Tokocrypto, a member of the Binance group, has successfully obtained the Physical Crypto Asset Trader (PFAK) license from Indonesia's Futures Trading Regulatory Agency (Bappebti), marking a significant milestone in its journey to establish a robust and transparent crypto ecosystem in the region.
The PFAK license is a testament to Tokocrypto's dedication to regulatory excellence and its vision of fostering a secure and reliable crypto-asset trading platform. Since 2022, the company has consistently strengthened its commitment to maintaining high standards of regulatory compliance, ensuring a solid foundation in the crypto-asset ecosystem in Indonesia.
Tokocrypto's PFAK license ensures compliance with Bappebti's regulatory standards for crypto asset trading, safeguarding investor interests and increasing trust in its services. As the third exchange in Indonesia to receive this license, Tokocrypto operates in a market with 35 prospective crypto exchanges registered with Bappebti.
Tokocrypto's user base has surpassed 4.5 million in 2024, with trading volume increasing by 170% compared to 2023. These figures highlight the consistent growth and increasing trust in its services throughout 2024, solidifying its position in Indonesia's crypto market.
Tokocrypto's PFAK license is a significant achievement, demonstrating its commitment to regulatory compliance and its vision of establishing a robust and transparent crypto ecosystem in Indonesia. With the support of Binance, Tokocrypto is well-positioned to drive the growth of the Web3 ecosystem in the region.
