Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Friday, April 09 2021 - 21:59
Tokocrypto Launches Toko Token (TKO), a CeFi-DeFi hybrid and Indonesia's first virtual currency project
JAKARTA, Indonesia, April 9, 2021 /PRNewswire-AsiaNet/ --

On, April 7, 2021, Binance Smart Chain (BSC) officially began trading their 
signature self-built "Toko Token" (TKO), Indonesia's first local virtual 
currency project on Binance Launchpad, the largest virtual currency launchpad 
worldwide, according to Tokocrypto.

The currency was launched with $0.1 per coin with a total supply of 500 million 
shares and enables high-speed transactions at low fees. TKO recorded an 
oversubscription of 201,406 individuals with a total of 10,502,201 BNB at the 
launch date.

The TKO offers a unique hybrid feature by combining the advantages of both the 
Centralized Finance (CeFi) and Decentralized Finance (DeFi) model which is the 
first in Indonesia. "The birth of TKO is a big achievement for us. It will be 
the most appropriate vehicle to help Indonesian realize the unlimited potential 
that we can achieve through blockchain technology," said Pang Xue Kai, Founder 
& CEO of Tokocrypto platform.

Accordingly, the 
in December 2019 reported global fintech market are showing a significant 
increase in 2018, reflecting greater application of blockchain in financial 
services around the world. The research covered Southeast Asian countries and 
it forecasted blockchain market size will reach US$23.3 billion by 2023, 
representing a CAGR of 81% over the period from 2018 to 2023.

"The age of blockchain and virtual currency is here. With the technology from 
BSC that offers user-friendly services, it allows Indonesia with a large 
population of approximately 270 million to enjoy a financial system that is 
equivalent to developed countries," said Kai.

Kai explained, as the first local Indonesian virtual currency project, TKO 
offers a hybrid currency model. Several services the currency offers are 
Exchange Platform Token that offers trading fee discounts, airdrop entitlement, 
merchandise redemption. 

TKO can be used in deposit and savings programs such as TKO Deposit, TKO 
Savings, and TKO Cashback. Furthermore, as DeFi product, TKO will be integrated 
on third-party DeFi platforms via farming pools, lending, and more. Finally, 
the Tokocrypto will pioneer the Indonesian NFT landscape with Indonesia's 
first-of-its-kind marketplace for digital collectibles and creative assets from 
emerging young artists.

He continued, "Through TKO, we aim to build an "Indonesia Strategy" for 
Indonesians, where this solution can reach out to everyone in the country on 
top of general financial services," said Kai. 

SOURCE  Tokocrypto

Image Attachments Links:


   Caption: TKO offers a unique hybrid feature by combining the advantages of 
both CeFi and DeFi model which is the first in Indonesia.