Tokocrypto, a subsidiary of Binance, has obtained a full license as a Physical Crypto Asset Trader (PFAK) from Indonesia’s Commodity Futures Trading Regulatory Agency

Tokocrypto is a cryptocurrency exchange platform based in Indonesia, founded in 2018.

On September 9, 2024, Tokocrypto, a subsidiary of Binance, has obtained a full license as a Physical Crypto Asset Trader (PFAK) from Indonesia’s Commodity Futures Trading Regulatory Agency, known as Bappebti.

PFAK allows Tokocrypto to operate as a physical crypto-asset trader

This makes Tokocrypto the third crypto exchange to receive such a license in Indonesia.

Tokocrypto’s user base has surpassed 4.5 million in 2024.  Yudhono Rawis is the CEO of Tokocrypto.

This achievement strengthens Tokocrypto’s position in the Southeast Asian crypto market and ensures compliance with local regulations Binance acquired Tokocrypto in late 2022, Tokocrypto is a part of the Binance group.