Tokocrypto, a subsidiary of Binance, has been granted a full operating license by Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). This achievement marks a significant regulatory milestone for the company and bolsters its standing in the Indonesian cryptocurrency market.
The license permits Tokocrypto to operate as a fully regulated digital asset exchange, expanding its ability to offer cryptocurrency trading services across Indonesia. The move comes as part of Tokocrypto’s ongoing efforts to comply with local regulatory standards and enhance its operational framework.
Pang Xue Kai, CEO of Tokocrypto, expressed enthusiasm about the development, stating, “We are excited to receive this full license from Bappebti. It not only validates our commitment to regulatory compliance but also strengthens our position in the Indonesian market. We look forward to continuing to provide secure and innovative services to our users.”
With the new license, Tokocrypto is set to broaden its service offerings and improve its platform capabilities, aiming to attract a larger user base and offer a more comprehensive range of cryptocurrency trading options. This regulatory endorsement is expected to enhance Tokocrypto’s credibility and operational security.
Indonesia has been tightening its regulations on digital assets to safeguard investors and ensure market stability. Tokocrypto’s licensing reflects the country’s broader efforts to create a well-regulated and secure trading environment for cryptocurrencies.
The licensing process underscores Binance’s commitment to expanding its footprint in Southeast Asia. Since acquiring a stake in Tokocrypto in early 2021, Binance has been working to strengthen its global presence, with Tokocrypto’s full license representing a key achievement in this strategy.
Industry experts view Tokocrypto’s regulatory approval as a positive development for Indonesia’s cryptocurrency sector. It signals increased legitimacy and encourages other players in the crypto space to seek regulatory compliance, thereby contributing to a more organized and secure market.
As Tokocrypto moves forward with its newly acquired license, the company plans to focus on expanding its platform and services to better meet the needs of Indonesian investors. The development also highlights a growing trend of regulatory acceptance and institutional engagement with digital assets in the region.
