Tokocrypto Obtains License As A Physical Trader Of Crypto Assets From CoFTRA

Tokocrypto CEO Yudhono Rawis (photo: dock. Tokocrypto)

JAKARTA - Tokocrypto, a crypto asset trader in Indonesia, has obtained a license as a Physical Crypto Asset Trader (PFAK) from the Commodity Futures Trading Supervisory Agency (CoFTRA).

With the issuance of this PFAK license, Tokocrypto officially has full legality to operate as a Physical Crypto Asset Trader, in accordance with the rules stipulated in the CoFTRA Regulation Number 13 of 2022 concerning amendments to the CoFTRA Regulation Number 8 of 2021 concerning Guidelines for the Implementation of Physical Market Trading for Crypto Assets on the Futures Exchange.

Tokocrypto CEO, Yudhono Rawis, said that this achievement was not only an important milestone for Tokocrypto, but also a step forward in ensuring that the crypto asset industry in Indonesia continues to develop safely, transparently and sustainably.

"This is an important part of the company's strategy to build a strong foundation in the crypto asset ecosystem, and ensure that we can provide the best service to our customers," Yudho said in a statement on Tuesday, September 9.

Tokocrypto's PFAK license not only provides full legality for companies to operate, but also provides protection guarantees for crypto investors in Indonesia.

Tokocrypto can increase the trust of investors, communities and partners, to continue to provide crypto asset trading services that are safe, transparent, and reliable for the people of Indonesia.

The number of Tokocrypto users has exceeded 4.5 million this year. Trading transactions on Tokocrypto when compared to the same period in 2023, increased by +170 percent, with the average monthly transaction value increasing by +138 percent when compared to the same period in 2023.