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Tokocrypto is considering a public market debut.

Tokocrypto is considering a public market debut

Jakarta-based Tococrypto received an undisclosed investment from Binance in May 2020. According to the Nikkei report on Wednesday, Tokocrypto is also considering a public market debut over the next two or three years.


Pang Xue Kai


Pang Xue Kai, the CEO of Tokocrypto, said they are saying two years because they have to be profitable for more than two years at least before listing. He further said that they are thriving now.


Key Focus


He also added that their crucial focus at Tokocrypto is to grow the business, expand their operations to more parts of Indonesia and make Crypto mainstream in the country.


Premature

Moreover, he said that valuation wise it’s premature to talk about it as an IPO is still 2 to 3 years down the road, but a closed reference would be Coinbase of the US.


Monitoring

They are currently monitoring the market, scaling the business, and building the team and products. Tokocrypto, founded in 2018, is regulated under the Indonesia Ministry of a trade by the commodity futures trading regulatory agency.


Binance

Tococrypto also has ties with the world’s largest Crypto exchange Binance. Moreover, the firm also launched the sale of its Tokocrypto TKO tokens on Binance earlier this year. In addition, the company also rolled out an upgraded Crypto exchange powered by Binance cloud last year.


Major Hotspot

Indonesia has been emerging as a significant hotspot for cryptocurrency activity despite the government banning Crypto-based payments in 2017.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.