Indonesian Crypto Exchange Tokocrypto Eyes Public Listing
Tokocrypto's CEO indicated it plans to go public in two to three years.
Jun 2, 2021 at 10:16 a.m. UTCUpdated Aug 19, 2021 at 9:50 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/DAKBKGSXWRD6LET2QBFPBA52ZY.jpg)
Tokocrypto, Indonesia's first regulated crypto exchange, is eyeing a public market listing in the next two to three years.
- According to CEO Pang Xue Kai, Tokocrypto is profitable. It needs to remain so for at least two years before listing, DealStreetAsia reported Wednesday.
- Tokocrypto was backed by an undisclosed investment from Binance last year aimed at building out new products and services, improving the tech stack and expanding its customer base.
- Launched in 2018, Tokocrypto was the first crypto exchange to be regulated by Indonesia’s Commodity Futures Trading Regulatory Agency (BAPPEBTI).
- Crypto is outlawed as an instrument of payment in Indonesia, but is flourishing as a form of investment. Research by BAPPEBTI showed there are around 4.45 million investors in the country, more than twice the number of Indonesians who invest in stocks.
- It was reported last month that Indonesia is considering a plan to tax crypto trading profits in a bid to bolster revenue amid the COVID-19 pandemic.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)