Tokocrypto gets go-ahead to trade cryptocurrency assets in Indonesia

This allows the platform to buy and sell assets such as Bitcoin and Ethereum.

The Indonesian government has approved Tokocrytpo as a platform for trading of cryptocurrency assets, the cryptocurrency exchange platform announced. This will allow the platform to buy and sell cryptocurrency assets such as Bitcoin and Ethereum.

This also makes Tokocrypto the first cryptocurrency exchange to be registered with Indonesian regulators to operate legally in the country.

Established by Singaporean entrepreneur Pang Xue Kai in 2017, Tokocrypto has since facilitated more than $250m in cryptocurrency assets, the company said.

Indonesia’s digital economy is projected to quadruple to $133b by 2025 from $40b in 2019, based on a report by Google and Temasek.