2022-12-27
Tokocrypto is a company that operates cryptocurrency exchanges in
Indonesia. Currently the company is owned by Binance.
Changpeng Zhao said on Twitter that Binance was already a major shareholder of Tokyocryto since 2020. In 2020 Binance owned about 60% stake in Tokocrypto.
CZ added on Twitter that this time in 2022 Binance injected more cash
to increase stake in Tokocrypto. Binance planned to buy another 40% stake to
fully acquire the company.
Indonesia is a big market; it is the world’s 16th largest
economy with population of 276 million people. This acquisition definitely a
major step for Binance’s expansion.
