First Regulated Cryptocurrency Exchange in Indonesia, Tokocrypto, Secures Investment from Binance
Jakarta, May 12, 2020 ̶ Tokocrypto, the leading regulated cryptocurrency exchange in Indonesia, today announced it has secured an investment from Binance, the global blockchain company behind the world’s largest cryptocurrency exchange by trading volume and users.
The funding will be used to accelerate the growth of Tokocrypto’s business, including new products and services, technology enhancements, nationwide expansion, and new initiatives for blockchain education in the region.
Pang Xue Kai, Co-Founder and CEO of Tokocrypto said, “This investment in Tokocrypto serves to validate Indonesia’s promising blockchain ecosystem, showcasing the confidence from a leading global player. The investment from Binance will help establish Tokocrypto’s leading services in the Indonesian market and accelerate our vision in bringing an open financial ecosystem through blockchain technology.”
Founded in early 2018, Tokocrypto aims to drive adoption and further the accessibility of cryptocurrency in Indonesia through its exchange and services.
Early backers in the company’s seed funding round included Singapore-based digital asset trading and investment firm, QCP Capital.
The team reached a milestone in 2019 as Tokocrypto became the first cryptocurrency exchange to be regulated by the Indonesia Commodity Futures Trading Regulatory Agency (BAPPEBTI).
Changpeng Zhao (CZ), Founder and CEO of Binance, stated that “with fast technology adoption, strong economic growth, and the world’s fourth-largest population, Indonesia will become one of the leading centers of the blockchain ecosystem in Southeast Asia. Our investment in Tokocrypto will allow us to explore exciting new opportunities together for the Indonesian market with a regulated local partner to further enable the freedom of money.”
Tokocrypto is additionally supported by its advisory board of experienced cryptocurrency experts, including Joshua Ho, Darius Sit of QCP Capital and Shaun Djie from Digix who have been advisors to the team since 2018.
“Tokocrypto will also continue to develop various new initiatives as well as continuing its work and cooperation with regulatory bodies in the region such as BAPPEBTI and PPATK and strategic partnerships with other industries,” said Teguh Kurniawan Harmanda, COO of Tokocrypto.
About Tokocrypto
Tokocrypto Digital Exchange is the leading regulated and one of the largest digital exchanges in Indonesia. Founded in 2018, Tokocrypto was born from a group of crypto enthusiasts with a strong belief in the benefits that blockchain technology offers to the public. Tokocrypto aims to be Indonesia leading exchange for digital exchange by providing customers with an easy, simple, instant, and secure platform to transact with confidence. Tokocrypto is also a hub for education and news on blockchain technology through close collaboration with Southeast Asian blockchain communities, universities, the public, and the Indonesian government. For the latest news on Tokocrypto, join our Telegram and follow us on Facebook, Twitter, Instagram, and YouTube.
For more information, visit: https://tokocrypto.com
About Binance
Binance is the global blockchain company behind the world’s largest digital asset exchange by trading volume and users, serving a greater mission to accelerate cryptocurrency adoption with 25+ products, projects and initiatives including:
● Binance Exchange (Binance.com): Binance Futures, Spot & Margin trading, Binance Lending and Binance Staking
● Binance Academy: non-profit blockchain and crypto educational portal
● Binance Charity: non-profit organization and first blockchain-powered donation platform dedicated to advancing transparent philanthropy
● Binance DEX: community-driven decentralized exchange developed on top of the Binance Chain blockchain for issuing and exchanging digital assets in a decentralized manner
● Binance Fiat Gateways: buy-and-sell crypto platform, covering 170+ countries and regions through local payments partners and P2P platforms. Fiat-to-Crypto Platforms: joint ventures with global partners to buy, sell and trade crypto: Binance US, Binance Jersey, Binance Korea, Binance Singapore, Binance Uganda, Binance Lite Australia
● Binance Labs: venture arm and incubator, investing in and supporting early-stage blockchain startups and infrastructure projects
● Binance Launchpad: exclusive token launch platform for supporting transformative blockchain startups and entrepreneurs
● Binance Pool: Comprehensive cryptocurrency mining platform connecting miners to Binance’s suite of financial products, designed to improve user earnings.
● Binance Research: institutional-grade, data-driven insights and analysis for crypto investors
● Binance X: developer-focused initiative to foster innovation of blockchain developers and cultivate industry growth and meaningful use cases
● Other initiatives include: Binance Cloud (end-to-end enterprise solution for launching exchanges), Binance Info (market news and insights), Trust Wallet (mobile wallet and dApp browser)
For more information, visit: https://www.binance.com
