Tokocrypto, a Binance affiliate, has secured a license from Indonesia’s regulator to operate as a physical crypto asset trader, marking a significant advancement in the country's crypto sector.
Regulatory Achievement
Tokocrypto, a Binance-owned cryptocurrency exchange, has been granted a physical crypto asset trader license by the Commodity Futures Trading Regulatory Agency (Bappebti). Tokocrypto first registered as a prospective physical crypto asset trader in 2019 and has completed a rigorous licensing process.
Executive Opinions
Binance CEO Richard Teng praised the achievement, highlighting its importance for fostering a robust crypto ecosystem in Indonesia.
Growth and Development
Following the announcement, Tokocrypto’s native token, TKO, surged 12% on the day and has risen nearly 23% over the month, bringing its market capitalization to $24.7 million. Tokocrypto reported significant expansion in 2024, with its user base growing to over 4.5 million and a 138% increase in monthly average trading volume.
Securing the crypto asset trading license underscores Tokocrypto and Binance’s strong presence in Indonesia's rapidly growing crypto environment.
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