---
title: "Binance-backed Tokocrypto secures license from Indonesian regulator"
url: https://diffcoin.com/binance-backed-tokocrypto-secures-license-from-indonesian-regulator/
description: "Binance-owned Tokocrypto has secured a license from Indonesia's regulator, allowing it to operate as a licensed crypto asset trader"
published: 2024-09-09
updated: 2024-09-09
author: "Mila"
site: "Diffcoin"
---

# Binance-backed Tokocrypto secures license from Indonesian regulator

Tokocrypto, a Binance affiliate, has secured a license from Indonesia’s regulator, allowing it to operate as a licensed crypto asset trader.

Tokocrypto (TKO), a Binance-owned cryptocurrency exchange in Indonesia, has secured a physical crypto asset trader license from the Commodity Futures Trading Regulatory Agency (also known as Bappebti), marking an advancement for the exchange in Indonesia’s crypto sector.

In a Sept. 9 press release, Binance said that Tokocrypto, which first registered as a prospective physical crypto asset trader in 2019, has completed a rigorous licensing process to achieve full operational status as a physical crypto asset trader.

Binance chief executive Richard Teng praised the achievement, describing it as a testament to the exchange’s regulatory diligence and its role in fostering a robust crypto ecosystem in Indonesia.

> “We are proud of this achievement to become the third exchange to receive PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti.”
> 
> Yudhono Rawis, Tokocrypto CEO

Following the announcement, Tokocrypto’s native token, TKO, surged 12% on the day and has risen nearly 23% over the month, bringing its market capitalization to $24.7 million.

Tokocrypto reported a significant expansion in 2024, with its user base growing to over 4.5 million and a 138% increase in monthly average trading volume. Binance acquired the exchange in late 2022 for an undisclosed amount, which led to the departure of former CEO Pang Xue Kai and a 58% reduction in staff.

[Source link](https://crypto.news/binance-backed-tokocrypto-secures-license-from-indonesian-regulator/)