Binance supports Tokocrypto, the first Indonesian DeFi Project on Binance Smart Chain – Tokocrypto, Indonesia’s first regulated crypto exchange platform under the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI) to encourage greater adoption of blockchain in Indonesia by building the CeDeFi project on top of the Binance Smart Chain (BSC).

BSC provides low fees, fast transaction speeds, reliable and easy-to-use services, which serve to empower the next generation of blockchain-based financial products to thrive and take advantage of the growing Fintech industry in Indonesia. With a vision to spread financial freedom to all, Binance continues to support Tokocrypto, the fastest growing crypto asset trading platform in Indonesia, to increase blockchain adoption and drive penetration of BSC applications in the country.

“Indonesia is one of the most active BSC communities. We hope this collaboration with Tokocrypto will provide support to blockchain projects and promote crypto adoption in Indonesia”, said Xiaoguang, BSC ecosystem coordinator. Tokocrypto will develop Indonesia’s first hybrid CeDeFi (TKO) token on top of Binance Smart Chain.

TKO combines the best of Centralized Finance (CeFi) and Decentralized Finance (DeFi). DeFi’s lending and passive income products can help accelerate adoption among Indonesia’s unbanked population and greater financial inclusion, while CeFi offers products that are easier to use and more common. To bridge the gap between Tokocrypto and DeFi users.

Tokocrypto will initially focus on educating users about crypto finance and the development of CeFi utilities, such as TKO Deposits, TKO Savings & TKO Cashback at Tokocrypto. In addition, Tokocrypto and Binance co-host the Indonesian Blockchain Week 2022 and the BSC Indonesia Summit on March 20, 2022. This event aims to gather industry leaders and influencers from various world-class BSC projects. to participate in a series of engaging, informative and thought-provoking online sessions around the blockchain ecosystem.

“Binance has always been our strong supporter at Tokocrypto. Through this closer collaboration, it is hoped that it will be able to encourage crypto adoption through the TKO token to more regions in Indonesia. It will also allow us to leverage human resources and support across the BSC ecosystem,” said Pang Xue Kai, CEO of Tokocrypto.

Another initiative as part of this collaboration is a developer fund project to empower emerging projects and encourage collaboration between Centralized Finance (CeFi) and Decentralized Finance (DeFi). The project provides funding, programs and initiatives that provide long-term sustainable economic and social benefits to the people of Indonesia.

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