TokoCrypto
Rank #92 ActiveCEXOtherThe exchange was founded in 2017 in Jakarta (PT Aset Digital Berkat). In November 2019, it became the first in Indonesia to register with Bappebti (receiving CPFAK status). In May 2020, Binance announced strategic investments, after which the "Tokocrypto 2.0" version was launched on Binance Cloud. On April 7, 2021, the native token TKO was issued on Binance Launchpad - the first project from Southeast Asia on this platform. On August 19-20, 2021, the multi-category NFT marketplace TokoMall was opened. On December 19, 2022, Binance completed a 100% acquisition, leading to a change of CEO and a 58% staff reduction. In January 2025, Calvin Kizana was appointed as the new CEO, and from January 10, 2025, oversight of crypto assets transferred from Bappebti to OJK. In May 2026, the exchange began migrating to the ICEX Group (Indonesia Crypto Exchange) ecosystem to comply with OJK requirements for separating exchange, clearing, and custody functions. As of mid-2025, it had 4.5 million registered users (74% male, 56.7% aged 18-30). Current Trust Score - 6 . Regulation and Licenses The exchange is registered in Indonesia as PT Aset Digital Berkat. First registration with Bappebti - November 2019, number "001/BAPPEBTI/CP-AK/11/2019" (candidate status for physical crypto asset trader). On September 5, 2024, it received a full Physical Crypto Asset Trader (PFAK) license under Bappebti regulation No. 03/BAPPEBTI/PFAK/09/2024. Since January 10, 2025, regulation has moved to OJK - the exchange positions itself as under OJK supervision. It holds an electronic system operator registration mark from the Ministry of Communication and Informatics (Kominfo) No. 000265.01/DJAI.PSE/03/2021. ISO 27001 and ISO 27017 certificates are confirmed (certificate number IS 740524). KYC is mandatory and includes verification via Indonesian identity card (KTP) or passport for foreigners with a liveness check. Integration with the Ministry of Home Affairs for data verification. Access is restricted for US citizens and other jurisdictions that prohibit offshore digital asset trading. No major fines or bans have been recorded. In 2022, there were insider trading allegations from a former employee (allegedly receiving information about upcoming listings); the exchange denied these claims. In December 2024, a major fraud scheme was thwarted jointly with the Indonesian National Police and Binance. The exchange was involved in civil litigation (represented by law firm Withers) over a former employee disclosing the physical office address - the court ruled in favor of TokoCrypto, setting a precedent for corporate address protection. Products and Fees The main product is spot trading, based on Binance Cloud since 2020. In March-April 2026, a simplified instant "Buy/Sell" order was added. On November 5-6, 2025, an OTC service was launched for VIP and institutional clients (RFQ requests, minimum trade $5,000, up to eight-figure amounts, multi-currency settlements, under OJK supervision). The native token TKO (Toko Token): launched on April 7, 2021, on Binance Launchpad (19th project), trading began at 20:00 WIB. Utilities: fee discounts when paying in TKO, participation in savings/earnings programs, VIP privileges, use in the NFT ecosystem (TokoMall). Quarterly burns are conducted - part of the revenue is directed to reducing supply. The TKO smart contract was audited by CertiK in March 2021. On June 30, 2020, the stablecoin BIDR, pegged to the rupiah, was launched jointly with Binance. API: REST and WebSocket (documentation with endpoints, including for user data and listen tokens). SDK CCXT. In 2026, support for Self-Trade Prevention (STP) with multiple modes was added. The fee model is tiered VIP (discount with high 30-day volume or TKO balance). Fee payment in TKO with a discount is available. Periodic zero-fee promotions on certain pairs (e.g., ETH/BUSD) were held. From 2024-2026, the fee structure includes national crypto exchange fees CFX and clearing fees KKI, which change per joint circulars. Volumes and Liquidity Trust Score as of Aug 3, 2026 - 6 . As of 2025-2026 data, TokoCrypto ranks second among Indonesian exchanges by historical daily volume, behind Indodax . The majority of volume comes from IDR and USDT spot pairs. Derivatives are not offered on the domestic market; after the adoption of OJK regulation No. 23/2025, their status became clearer, but TokoCrypto maintains a spot focus. Security and Incidents Architecture: most funds in cold storage, hot wallets with multi-signature. An insurance policy of $10 million covers potential losses. Proof-of-Reserves (PoR) is published based on a Merkle tree with zk-SNARK for user privacy - the portal has been available since 2023. No confirmed hacks resulting in loss of client funds have occurred throughout its history. No withdrawal freezes or insolvency events have been recorded. Technical downtime: May 22, 2024 - scheduled maintenance with app/site unavailability; September 27, 2024 - support system maintenance; June 17-18, 2026 - scheduled migration with IDR operations suspended (confirmed by external monitors). Fiat withdrawal processing times were adjusted on holidays. In 2022, due to Bappebti regulation No. 11/2022, 68 assets were delisted; in early 2025, under the updated CFX "whitelist," 291 tokens were removed (including AidCoin, Aleo, Mirror Protocol). Policy for recovering erroneous deposits: fee of 20 USDT, processing time up to 30 business days. Related Individuals Pang Xue Kai (co-founder, CEO until December 2022) - Singaporean, graduate of the National University of Singapore. Noticed the arbitrage opportunity during the "kimchi premium" (2017) and founded TokoCrypto as a brokerage platform without its own order book, using global liquidity. Secured the first regulation in Indonesia, established banking on-ramps for instant IDR deposits, and formed a strategic partnership with Binance. After leaving his post, he founded the AI startup Untukmu AI, which raised seed investment from 1982 Ventures in 2024. Calvin Kizana (CEO since January 2025) - previously Country Head of WhatsApp Indonesia (Meta). Under his leadership, the company achieved its first annual profit in 2024, conducted 135 educational events in second- and third-tier cities, reaching 200,000 participants. He oversees the exchange's integration into the ICEX Group ecosystem. Operating legal entity: PT Aset Digital Berkat (registered at Prudential Centre, Jalan Casablanca Raya, Kavling 88, Jakarta Selatan). 100% of shares have been owned by Binance since December 2022. Potential In May 2026, the exchange began transitioning to ICEX Group - a national infrastructure created under OJK mandate, which could strengthen trust from regulators and institutional players. User base growth (4.5 million as of mid-2025) and an active educational program (135 events in 2024) expand the audience beyond major cities. The development of OTC services (since November 2025) attracts corporate clients. Potential introduction of derivatives following OJK regulation No. 23/2025 could open a new segment, though the current focus remains on spot. The presence of licenses and cooperation with government bodies creates a solid foundation for legal scaling. Risks [Identified by Finkonkurs AI Analytics System] Regulatory risks : although the exchange was the first to obtain licenses, the transition of oversight to OJK may bring new stringent requirements. Mass delistings (in 2022 and 2025) at the regulator's direction reduce the product range and may deter issuers. Legal disputes (insider trading allegations), while not resulting in sanctions, create reputational risks. Ownership concentration : full ownership by Binance means dependence on the parent company's strategy. The 58% staff reduction in 2022 indicates possible restructurings when priorities shift. Competition : Indodax consistently leads in Indonesia; TokoCrypto holds second place. Derivatives are absent, limiting market share compared to global CEXs. Technical risks : using shared Binance Cloud infrastructure is an advantage but also a vulnerability in case of partner outages. Scheduled maintenance occurs several times a year, sometimes suspending operations for several hours. Fund recovery policy : a paid (20 USDT) and lengthy (up to 30 business days) procedure for returning erroneous deposits may cause user dissatisfaction.
- Liquidity depth6.0
- Reserves attestationNone
- Regulatory standing3.8
- Incident history3.6
No news in this range
| # | Name | Price | 24h | 7d | 24h volume | Market Cap | Spread | Last 7 days | Updated |
|---|---|---|---|---|---|---|---|---|---|
| 1 |  BitcoinBTC BTC/USDT | $66,565.00 | +0.20% | −1.70% | $521.06K | $1.27T | 0.010% | 12d | |
| 2 |  EthereumETH ETH/USDT | $1,936.79 | +0.40% | −0.20% | $188.32K | $224.68B | 0.011% | 12d | |
| 3 |  TetherUSDT USDT/USDT | $0.999 | +0.00% | +0.00% | — | $183.24B | — | — | |
| 4 |  BNBBNB BNB/USDT | $574.20 | +1.40% | +2.10% | $12.55K | $77.91B | 0.012% | 12d | |
| 5 |  USDCUSDC USDC/USDT | $0.9997 | +0.00% | +0.00% | $967 | $71.88B | 0.011% | 13d | |
| 6 |  XRPXRP XRP/USDT | $1.14 | +0.70% | −2.10% | $139.13K | $67.09B | 0.019% | 12d | |
| 7 |  SolanaSOL SOL/USDT | $78.44 | +0.50% | −2.30% | $155.69K | $42.40B | 0.013% | 12d | |
| 8 |  TRONTRX TRX/USDT | $0.3293 | −0.60% | −1.00% | $2.51K | $30.95B | 0.030% | 12d | |
| 9 |  DogecoinDOGE DOGE/USDT | $0.0737 | +0.50% | −3.30% | $24.16K | $10.87B | 0.014% | 12d | |
| 10 |  CardanoADA ADA/USDT | $0.1736 | +5.90% | +8.70% | $53.26K | $6.98B | 0.058% | 12d |
| Tier | Volume USDT | Maker | Taker |
|---|---|---|---|
| — | |||
News mentioning TokoCrypto3
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PIVX Weekly Pulse (Apr 4th, 2025 — Apr. 10th, 2025)
Binance-Backed Tokocrypto Gains Full License From Indonesian Regulator
The exchange was founded in 2017 in Jakarta (PT Aset Digital Berkat). In November 2019, it became the first in Indonesia to register with Bappebti (receiving CPFAK status). In May 2020, Binance announced strategic investments, after which the "Tokocrypto 2.0" version was launched on Binance Cloud. On April 7, 2021, the native token TKO was issued on Binance Launchpad - the first project from Southeast Asia on this platform. On August 19-20, 2021, the multi-category NFT marketplace TokoMall was opened. On December 19, 2022, Binance completed a 100% acquisition, leading to a change of CEO and a 58% staff reduction. In January 2025, Calvin Kizana was appointed as the new CEO, and from January 10, 2025, oversight of crypto assets transferred from Bappebti to OJK. In May 2026, the exchange began migrating to the ICEX Group (Indonesia Crypto Exchange) ecosystem to comply with OJK requirements for separating exchange, clearing, and custody functions. As of mid-2025, it had 4.5 million registered users (74% male, 56.7% aged 18-30). Current Trust Score - 6.
Regulation and Licenses
The exchange is registered in Indonesia as PT Aset Digital Berkat. First registration with Bappebti - November 2019, number "001/BAPPEBTI/CP-AK/11/2019" (candidate status for physical crypto asset trader). On September 5, 2024, it received a full Physical Crypto Asset Trader (PFAK) license under Bappebti regulation No. 03/BAPPEBTI/PFAK/09/2024. Since January 10, 2025, regulation has moved to OJK - the exchange positions itself as under OJK supervision. It holds an electronic system operator registration mark from the Ministry of Communication and Informatics (Kominfo) No. 000265.01/DJAI.PSE/03/2021. ISO 27001 and ISO 27017 certificates are confirmed (certificate number IS 740524).
KYC is mandatory and includes verification via Indonesian identity card (KTP) or passport for foreigners with a liveness check. Integration with the Ministry of Home Affairs for data verification. Access is restricted for US citizens and other jurisdictions that prohibit offshore digital asset trading.
No major fines or bans have been recorded. In 2022, there were insider trading allegations from a former employee (allegedly receiving information about upcoming listings); the exchange denied these claims. In December 2024, a major fraud scheme was thwarted jointly with the Indonesian National Police and Binance. The exchange was involved in civil litigation (represented by law firm Withers) over a former employee disclosing the physical office address - the court ruled in favor of TokoCrypto, setting a precedent for corporate address protection.
Products and Fees
The main product is spot trading, based on Binance Cloud since 2020. In March-April 2026, a simplified instant "Buy/Sell" order was added. On November 5-6, 2025, an OTC service was launched for VIP and institutional clients (RFQ requests, minimum trade $5,000, up to eight-figure amounts, multi-currency settlements, under OJK supervision).
The native token TKO (Toko Token): launched on April 7, 2021, on Binance Launchpad (19th project), trading began at 20:00 WIB. Utilities: fee discounts when paying in TKO, participation in savings/earnings programs, VIP privileges, use in the NFT ecosystem (TokoMall). Quarterly burns are conducted - part of the revenue is directed to reducing supply. The TKO smart contract was audited by CertiK in March 2021.
On June 30, 2020, the stablecoin BIDR, pegged to the rupiah, was launched jointly with Binance.
API: REST and WebSocket (documentation with endpoints, including for user data and listen tokens). SDK CCXT. In 2026, support for Self-Trade Prevention (STP) with multiple modes was added.
The fee model is tiered VIP (discount with high 30-day volume or TKO balance). Fee payment in TKO with a discount is available. Periodic zero-fee promotions on certain pairs (e.g., ETH/BUSD) were held. From 2024-2026, the fee structure includes national crypto exchange fees CFX and clearing fees KKI, which change per joint circulars.
Volumes and Liquidity
Trust Score as of Aug 3, 2026 - 6. As of 2025-2026 data, TokoCrypto ranks second among Indonesian exchanges by historical daily volume, behind Indodax. The majority of volume comes from IDR and USDT spot pairs. Derivatives are not offered on the domestic market; after the adoption of OJK regulation No. 23/2025, their status became clearer, but TokoCrypto maintains a spot focus.
Security and Incidents
Architecture: most funds in cold storage, hot wallets with multi-signature. An insurance policy of $10 million covers potential losses. Proof-of-Reserves (PoR) is published based on a Merkle tree with zk-SNARK for user privacy - the portal has been available since 2023.
No confirmed hacks resulting in loss of client funds have occurred throughout its history. No withdrawal freezes or insolvency events have been recorded.
Technical downtime: May 22, 2024 - scheduled maintenance with app/site unavailability; September 27, 2024 - support system maintenance; June 17-18, 2026 - scheduled migration with IDR operations suspended (confirmed by external monitors). Fiat withdrawal processing times were adjusted on holidays.
In 2022, due to Bappebti regulation No. 11/2022, 68 assets were delisted; in early 2025, under the updated CFX "whitelist," 291 tokens were removed (including AidCoin, Aleo, Mirror Protocol). Policy for recovering erroneous deposits: fee of 20 USDT, processing time up to 30 business days.
Related Individuals
- Pang Xue Kai (co-founder, CEO until December 2022) - Singaporean, graduate of the National University of Singapore. Noticed the arbitrage opportunity during the "kimchi premium" (2017) and founded TokoCrypto as a brokerage platform without its own order book, using global liquidity. Secured the first regulation in Indonesia, established banking on-ramps for instant IDR deposits, and formed a strategic partnership with Binance. After leaving his post, he founded the AI startup Untukmu AI, which raised seed investment from 1982 Ventures in 2024.
- Calvin Kizana (CEO since January 2025) - previously Country Head of WhatsApp Indonesia (Meta). Under his leadership, the company achieved its first annual profit in 2024, conducted 135 educational events in second- and third-tier cities, reaching 200,000 participants. He oversees the exchange's integration into the ICEX Group ecosystem.
Operating legal entity: PT Aset Digital Berkat (registered at Prudential Centre, Jalan Casablanca Raya, Kavling 88, Jakarta Selatan). 100% of shares have been owned by Binance since December 2022.
Potential
In May 2026, the exchange began transitioning to ICEX Group - a national infrastructure created under OJK mandate, which could strengthen trust from regulators and institutional players. User base growth (4.5 million as of mid-2025) and an active educational program (135 events in 2024) expand the audience beyond major cities. The development of OTC services (since November 2025) attracts corporate clients. Potential introduction of derivatives following OJK regulation No. 23/2025 could open a new segment, though the current focus remains on spot. The presence of licenses and cooperation with government bodies creates a solid foundation for legal scaling.
Risks [Identified by Finkonkurs AI Analytics System]
Regulatory risks: although the exchange was the first to obtain licenses, the transition of oversight to OJK may bring new stringent requirements. Mass delistings (in 2022 and 2025) at the regulator's direction reduce the product range and may deter issuers. Legal disputes (insider trading allegations), while not resulting in sanctions, create reputational risks.
Ownership concentration: full ownership by Binance means dependence on the parent company's strategy. The 58% staff reduction in 2022 indicates possible restructurings when priorities shift.
Competition: Indodax consistently leads in Indonesia; TokoCrypto holds second place. Derivatives are absent, limiting market share compared to global CEXs.
Technical risks: using shared Binance Cloud infrastructure is an advantage but also a vulnerability in case of partner outages. Scheduled maintenance occurs several times a year, sometimes suspending operations for several hours.
Fund recovery policy: a paid (20 USDT) and lengthy (up to 30 business days) procedure for returning erroneous deposits may cause user dissatisfaction.
FAQ
What are the fees on TokoCrypto?
The base maker fee is —, and the taker fee is —. A multi-tier VIP system applies: rates decrease with higher 30-day trading volume or a larger balance of the native TKO token. Fees can also be paid in TKO at a discount, and the platform periodically runs temporary zero-fee promotions for select pairs. From 2024-2026, the fee structure includes charges from the national exchange (CFX) and clearing house (KKI).
What is the trading volume of TokoCrypto?
The daily spot trading volume is —. The exchange does not offer derivative instruments (futures, options) to retail clients in Indonesia, so there is no derivatives volume.
Can TokoCrypto be trusted?
The exchange has a trust score of 6. It is regulated in Indonesia: registered with Bappebti since 2019, obtained a full PFAK license in September 2024, and came under OJK supervision in January 2025. It publishes Proof-of-Reserves based on Merkle trees and zk-SNARKs. There have been no hacks resulting in user fund losses in its history, but in 2022, a former employee accused the exchange of insider trading - the company denied these allegations.
What coins and products are available?
The platform lists 298 coins and 367 trading pairs. Main products include spot trading, instant buy/sell, OTC blocks for VIP clients (since November 2025), and the TokoMall NFT marketplace (launched in August 2021). The native token TKO (launched via Binance Launchpad in April 2021) is used for fee discounts and in savings programs.
Are there country restrictions and KYC requirements?
KYC is mandatory before trading begins: an Indonesian identity card (eKTP) or a passport with facial verification is required. The exchange blocks access from the US and other jurisdictions that prohibit offshore digital asset trading. Fiat deposits and withdrawals are processed through Indonesian banks, virtual accounts, and e-wallets (OVO, GoPay, DANA, etc.).
| Metric | |  |  |  |
|---|---|---|---|---|
| Trust | 6.0 | 10.0 | 10.0 | 10.0 |
| 24h vol | 50.57 BTC | 53.34K BTC | 10.99K BTC | 10.37K BTC |
| Markets | 367 | 1,370 | 1,697 | 1,092 |
| Spread | 0.121% | 0.062% | 0.078% | 0.043% |
| PoR | — | ✓ | ✓ | ✓ |
- —
- No proof-of-reserves published
- Opaque corporate jurisdiction