Binance Rumored To Acquire Tokocrypto

There are rumors that crypto exchange the world's largest, Binance, is planning to acquire Tokocrypto, Indonesian crypto exchange.

It is known that Binance has been investing in Tokocrypto since last May 2020.

Reported from Tech in Asia, a source who did not wish to be named said that the CEO of Tokocrypto, Pang Xue Kai, also resigned after the agreement regarding the acquisition was completed.

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Tokocrypto responded to this rumor by not confirming or denying it.

Tokocrypto VP Corporate Communications, Rieka Handayani, said that her party could not comment on this.

“We cannot comment on rumors and speculation that are circulating. Currently, Binance is one of Tokocrypto's investors who have joined since 2020 to jointly develop the company and help build the crypto asset industry in Indonesia," he said on Tuesday, December 2022, as quoted from Coinvestment.

He also explained that Tokocrypto would continue to focus on developing the crypto asset industry.

“Now, Tokocrypto's focus is on building a sustainable business and actively continuing the development of the crypto asset industry which has grown significantly. The company continues to encourage healthy business and industrial growth, and at the same time prioritizes customer education and protection," he said.

Also read: The 5 Best Exchanges in the World for 2022, There's Binance!

What is Binance

Legal crypto in Indonesia is — Recognize bep20 in BSC network

Binance is the world's leading blockchain ecosystem with a mission as an infrastructure service provider in the crypto space.

Binance also has a suite of financial products that includes the largest digital asset exchanges. Among them are Binance Exchange, BNB Chain, Trust Wallet, Binance Research, Launchpad, Binance Charity, Academy and Lab.

You can buy and sell various crypto assets on Binance. Starting from Bitcoin, Ethereum, BNB, Link and many other crypto assets.

Using Binance, users can buy and sell crypto assets using debit/credit cards or bank transfers.

As a company, it was also reported some time ago that it was in the process of acquiring FTX. This was canceled with various considerations made by Binance.

Also read: Binance Cancels Acquisition of FTX: Chronology and Impact on the Market

Tokocrypto

Tokocrypto is crypto exchange in Indonesia which has been verified by CoFTRA. Easy-to-use crypto asset trading application.

You can buy and sell crypto assets on Tokocrypto easily. Apart from that, you can also buy and withdraw crypto assets in rupiah. Withdrawal of these assets can be done in a relatively fast time.