In a vital announcement, the leading cryptocurrency exchange platform Tokocrypto has declared that it has sought approval of the Indonesian government for the trading of cryptocurrency assets in the country. Earlier this year in February, Indonesia’s Commodity Futures Trading Regulatory Agency or BAPPEBTI claimed that Tokocrypto became the country’s leading officially recognized cryptocurrency exchange platform.
The cryptocurrency exchange seeks to create a simple, safe, quick, and secure platform in Indonesia. It aims to become a leading community center for general masses for sharing technical information, expertise, and coin new ideas. It has already built a partnership with more than 20 blockchain & cryptocurrencies community and media all across the globe.
With today’s crucial approval, Tokocrypto will allow traders to purchase and sell cryptocurrency assets like Bitcoin and Ethereum at its platform with higher assurance and certainty. The company will also work towards allowing traders to remove legal concerns if any.
According to the latest report by Temasek and Google, it is expected that Indonesia’s digital economy may grow from the present US$40 billion to US$133 by the year 2025.
Tokocrypto was founded by Singaporean businessman, Pang Xue Kai, in the year 2017. Pang also holds the position of a governing council member in the Singapore Chamber of Commerce Indonesia.
Being the first cryptocurrency exchange to be registered with Indonesian regulators to operate legally in the country is a huge milestone for Tokocrypto as it brings us one step closer to being the leading cryptocurrency exchange platform in Southeast Asia.
Earlier, Tokocrypto officially announced the launch of new coins in Indonesia. It launched not only one but 5 coins, namely Gemini Dollar or GUSD, True USD or TUSD, Paxos Standard Token or PAX, USD Coin or USDC, and Tether, also known as USDT. The five coins are US Dollar based coins.