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Tokocrypto set to go public in two years

The Binance-backed Indonesian crypto exchange, by the name Tokocrypto is roaring to go public in the next two to three years maximum.

This was said by the CEO of Tokocrypto Pang Xue Ka who made this known via a release, that the exchange operator is already profitable, but said before a public listing, it needs to be profitable for at least more than two years. While an initial public offering or IPO is still two to three years down the road.

Kai added that in the meantime, Tokocrypto is already geared towards the growth of its business and would expand its operations to more parts of Indonesia so as to make crypto mainstream in the country.

Recall that Tokocrypto was founded in 2018 and is regulated by Indonesia’s commodity futures trading regulator, Bappebti. Earlier this year, Tokocrypto launched its token offering via Binance and raised $7.5 million by issuing its native token TKO at $0.10, according to tracker Cryptorank. One TKO is currently priced at around $2, according to CoinGecko.

While Binance had earlier acquired a controlling stake in Tokocrypto 2020 in the time of the covid 19.

In a related development, Digital Currency Group-owned crypto exchange Luno is also reportedly looking to enter Indonesia. Even as Two people familiar with the development said that Luno is in early-stage talks with conglomerate Lippo Group to set up a joint venture to start operations in the country. Meanwhile Luno is currently based in London and has a regional presence in Singapore and Cape Town, South Africa.

 

 

 

 

 

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