Binance’s Tokocrypto announced that it has successfully obtained a Physical Crypto Asset Dealer (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Authority (Bappebti), making Tokcrypto the third exchange in Indonesia to receive the PFAK license. This milestone highlights Tokocrypto and Binance’s commitment to regulatory compliance and marks a critical moment in the development of Indonesia’s crypto asset industry.
Binance CEO Richard Teng congratulated Tokocrypto and all parties involved in this significant achievement. Richard said: “This milestone is a testament to Tokocrypto’s unwavering commitment to regulatory excellence and its vision of building a strong and transparent crypto ecosystem in Indonesia. Binance is committed to fully supporting Tokocrypto in its mission to advance the region’s Web3 ecosystem.” Tokocrypto’s user base has exceeded 4.5 million this year, with trading volume up 170% compared to 2023.