Tokocrypto, a member of the Binance group, has secured a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti).
Tokocrypto registered as a Prospective Physical Crypto Asset Trader (CPFAK) in 2019 and has navigated a rigorous licensing process to meet all the requirements for a fully licensed entity set by Bappebti. The PFAK license now grants Tokocrypto the authority to operate as a physical crypto asset trader.
Yudhono Rawis, CEO of Tokocrypto, commented:
“Over the past two years, Tokocrypto has continuously strengthened its commitment to maintaining high standards of regulatory compliance. 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. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.”
