News/Binance Acquires Indonesian Crypto Exchange Tokocrypto

Binance Acquires Indonesian Crypto Exchange Tokocrypto

Dec 19,2022,19:13

Binance announced the acquisition of Indonesian crypto exchange Tokocrypto, CoinDesk reports.

Binance said that it will gradually increase its shareholding in Tokocrypto to almost 100%. Previously, Binance started investing in Tokocrypto in 2020. Tokocrypto is the first crypto exchange in Indonesia that is regulated by the country's regulation institution, BAPPEBTI.

Meanwhile, around 58% of Tokocrypto's employees were laid off. It will focus on business unit exchanges in the future.

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