The national cryptocurrency exchange, announced by the Indonesian government a week ago, has commenced operations, as stated by the country’s Commodity Futures Trading Regulatory Agency, known as Bappebti.
Bappebti confirmed the launch of the cryptocurrency exchange on July 20. Additionally, the agency has established a futures contract clearing payment center in conjunction with the exchange.
The clearing payment center acts as an intermediary between buyers and sellers, ensuring smooth transaction processes.
The CEO of Tokokrypto, one of the 25 licensed cryptocurrency exchanges in Indonesia and partially owned by Binance, referred to the project as a “catalyst for Indonesia’s cryptocurrency ecosystem.”
The launch, originally planned for late 2022, was delayed until June 2023 due to the process of reviewing potential participants of the cryptocurrency exchange.
Minister of Trade Zulkifli Hasan announced that all existing cryptocurrency exchanges with national registration are eligible to participate in the cryptocurrency exchange.