Heaptalk, Jakarta — Indonesia’s cryptocurrency exchange Tokocrypto has obtained a a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (CoFTRA).
According to Tokocrypto’s CEO, Yudhono Rawis, this achievement represents a significant milestone for the company and the broader development of a safe, transparent, and sustainable cryptocurrency industry in the archipelago.
“Over the past two years, Tokocrypto has consistently committed to adhering to high regulatory standards. This is a vital part of our strategy to establish a solid foundation in the crypto asset ecosystem while ensuring we deliver the best services to our customers. We are proud to be the third exchange to receive the PFAK license among 35 registered CPFAKs at CoFTRA,” Yudhono stated.
Since being registered as a Prospective Physical Crypto Asset Trader (CPFAK) in 2019, Tokocrypto has undergone a lengthy and rigorous licensing process to meet all the requirements set by CoFTRA With the issuance of the PFAK license, this company officially holds total legal authority to operate as a Physical Crypto Asset Trader, following the CoFTRA’s policy No.13/2022, which amends Regulation No.8 of 2021 on Guidelines for Physical Crypto Asset Trading in Futures Exchanges.
In 2024, this crypto exchange exceeded its user base of 4.5 million. Tokocrypto also experienced a significant increase in trading activity, with over 170% growth in trading volume compared to the same period in 2023. Moreover, monthly transaction values have risen by more than 138%, demonstrating the growing trust in Tokocrypto’s services and innovations throughout 2024.
With the PFAK license, Tokocrypto looks forward to increasing trust among investors, partners, and the broader community. The company will continue to offer a more secure, transparent, and reliable cryptpo trading experience for Indonesia’s crypto investors.
“CoFTRA will ensure that only companies or traders who meet the standards and requirements set forth in its regulations can operate as Physical Crypto Asset Traders (PFAK). This move is essential to create a safe and sustainable crypto trading ecosystem in Indonesia,” CoFTRA’s Chairman, Kasan, concluded.
