Tokocrypto gets Physical Crypto Asset Trader license in Indonesia

Since its registration as a Prospective Physical Crypto Asset Trader (CPFAK) in 2019, Tokocrypto, a member of the Bianance group, has navigated a rigorous licensing process to meet the requirements set by Indonesia’s Futures Trading Regulatory Agency (Bappebti). The issuance of the PFAK license now grants Tokocrypto full legal authority to operate as a physical crypto asset trader.

Executives from Bianance said this milestone is a testament to Tokocrypto's unwavering dedication to regulatory excellence and its vision of fostering a robust and transparent crypto ecosystem in Indonesia. Binance is committed to fully supporting Tokocrypto in its mission to drive the growth of the Web3 ecosystem in the region.

Officials from Tokocrypto highlighted the importance of the PFAK license in realising Tokocrypto's vision of becoming a prominent crypto-asset trading platform. Since 2022, the company has continuously strengthened its commitment to maintaining high standards of regulatory compliance. This is an essential part of their strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure they can provide augmented services.

Incresing trust for investors

Tokocrypto's PFAK license ensures compliance with Bappebti's regulatory standards for crypto asset trading, safeguarding investor interests. As the third exchange in Indonesia to receive this license, the company operates in a market with 35 prospective crypto exchanges registered with Bappebti. Supported by Binance, Tokocrypto aims to strengthen its market position in Indonesia and showcase its commitment to offering secure, transparent, and reliable crypto-asset trading services.

Tokocrypto’s user base has surpassed 4.5 million in 2024, while trading volume increased by 170% compared to 2023. These figures highlight the consistent growth and increasing trust in its services throughout 2024.