Tokocrypto Secures PFAK License in Indonesia, TKO Token Surges, User Base Exceeds 4.5 Million

Sep 9, 2024, 12:04 PM

Tokocrypto, a subsidiary of Binance, has secured a Physical Crypto Asset Trader (PFAK) license from Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti). This makes Tokocrypto the third crypto exchange in Indonesia to obtain such a license. The license allows Tokocrypto to engage in physical crypto asset trading, enhancing its operational capabilities in Indonesia's growing crypto market. Tokocrypto's user base has exceeded 4.5 million, and it holds a 43% market share, making it the largest crypto exchange in the country. The announcement has also led to a surge in Tokocrypto's native token, TKO, which has risen by 12% in a day and nearly 23% over the month.