Binance Secures Crypto Exchange License in Indonesia

Binance Secures Crypto Exchange License in Indonesia

Binance, the world's leading cryptocurrency exchange, announced today that its Indonesian subsidiary, Tokocrypto, has been granted a Crypto Asset Trading License (PFAK) by the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti). This license will enable Tokocrypto to operate as a fully regulated cryptocurrency exchange in Indonesia, offering a wide range of digital asset trading services to its customers. Binance's acquisition of Tokocrypto in December 2022 was a strategic move to expand its presence in the Indonesian market. Indonesia is one of the most populous countries in the world, with a rapidly growing cryptocurrency market. The PFAK license will allow Tokocrypto to capitalize on this growth and provide Indonesian customers with a safe and secure platform to trade cryptocurrencies. "We are thrilled to have received this license from Bappebti," said CZ, CEO of Binance. "It is a testament to our commitment to compliance and to providing our customers with a world-class trading experience. We look forward to working with Bappebti to develop the Indonesian cryptocurrency market and to bring the benefits of blockchain technology to the people of Indonesia." Tokocrypto is one of the leading cryptocurrency exchanges in Indonesia, with over 2 million users. The exchange offers a wide range of trading pairs, including Bitcoin, Ethereum, and Binance Coin. Tokocrypto also provides a variety of other services, such as a fiat gateway, a mobile app, and a staking platform. The PFAK license is a significant development for the Indonesian cryptocurrency market. It will provide greater regulatory certainty for cryptocurrency businesses and will help to attract more investors to the market. It is also a positive step for Binance, as it demonstrates the company's commitment to compliance and to expanding its global reach.