Tokocrypto, an Indonesian cryptocurrency exchange owned by Binance, has become the third exchange in the country to secure a full license as a Physical Crypto Asset Trader (PFAK) from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti).
This milestone comes after Binance’s acquisition of Tokocrypto in late 2022, having previously been the majority shareholder in the exchange. The license grants Tokocrypto the authority to operate under Indonesia’s evolving regulatory framework for crypto assets.
In 2023, Indonesia introduced a requirement for all crypto exchanges to register with the Commodity Future Exchange (CFX)—the world’s first national bourse for crypto assets, regulated by Bappebti. The bourse functions similarly to a traditional stock exchange but focuses specifically on digital assets, a move driven by Indonesia’s growing demand for cryptocurrencies.
“We are proud of this achievement to become the third exchange to receive the PFAK license in Indonesia,” said Tokocrypto CEO Yudhono. “This market has 35 prospective crypto exchanges registered with Bappebti, and we are excited to be part of this vibrant ecosystem.”
Currently, over 30 exchanges are still awaiting regulatory approval. Tokocrypto’s full license further strengthens its position in the rapidly growing Indonesian crypto market.
