Binance backed Tokocrypto, the first Indonesian DeFi Project on Binance Smart Chain

Binance backed Tokocrypto, the first Indonesian 
DeFi Project on Binance Smart Chain

Jakarta, March 17, 2020 – Tokocrypto – Indonesia’s first regulated crypto exchange under the Commodity Futures Trading Regulatory Agency Indonesia (BAPPEBTI) to drive greater adoption of  blockchain in Indonesia by building a CeDeFi project on top of Binance Smart Chain (BSC).

BSC provides low  costs, fast transaction speed, reliable and user-friendly service, which will be utilized to empower the next generation blockchain-based financial products to thrive and tap the growing Fintech industry of Indonesia. With the vision of spreading financial freedom to all, Binance will support Tokocrypto – the fastest growing crypto exchange in Indonesia, to boost blockchain adoption and encourage penetration of BSC applications in the country.

“Indonesia is one of the most active BSC communities. We are looking forward to working with Tokocrypto to provide support to blockchain projects and promote crypto adoption in Indonesia”, said Xiaoguang BSC ecosystem coordinator.

Tokocrypto  will develop Indonesia’s first hybrid CeDeFi token (TKO) on top of the Binance Smart Chain. TKO combines the best of both worlds from Centralised Finance (CeFi) and Decentralised Finance (DeFi). DeFi’s lending and staking products can help speed up adoption among the unbanked population of Indonesia and greater financial inclusion while CeFi still offers easy to use and more mainstream products. To bridge the gap between Tokocrypto users and DeFi, Tokocrypto will initially focus on educating users about crypto finance and will develop  CeFi utilities, such as TKO Deposit, TKO Savings & TKO Cashback on the Tokocrypto Exchange.

In addition to this, Tokocrypto and Binance will co-host the Indonesian Blockchain Week 2021 and the BSC Indonesia Summit in 20rd March, 2021. The summit aims to gather opinion leaders, local influencers, world-class BSC projects, coiners and no-coiners to participate in a series of engaging and thought-provoking online sessions around the blockchain ecosystem in Indonesia. Everyone can join and registered here.

“Binance has always been a strong supporter for us at Tokocrypto. Through this even closer collaboration, Tokocrypto will be able to push out the adoption of crypto via TKO tokens to even more areas of Indonesia. It will also allow us to tap into resources and support across the BSC ecosystem” said Pang Xue Kai, CEO of Tokocrypto.

Another initiative is a developer fund project to empower emerging projects and drive collaboration between Centralized Finance (CeFi) and Decentralized Finance (DeFi) . This project provides funding, events and initiatives that provide long-term sustainable economic and social benefits to communities.

About Tokocrypto

Tokocrypto is Indonesia’s no. 1 most trusted crypto assets digital exchange. We are the first entity in Indonesia to be registered under the Trade and Futures Exchange Ministry (BAPPEBTI).  Formed by a group of crypto enthusiasts who are strong advocates of the benefits of blockchain technology, our current goal is to help Indonesians gain a broader knowledge of the industry and to integrate the technology into the society and subsequently, the global economy.

Established in late 2017, Tokocrypto recently joined hands with Binance, the world’s largest cryptocurrency exchange, to upgrade our platform to Tokocrypto v 2.0 with the latest technology and security. This will allow our users to create their own alternative finance in an efficient, transparent and scalable manner with industry-grade security and liquidity.

Whether you’re a first-time investor or a professional trader – Tokocrypto has got you both covered!  Visit our website for more information