Tokocrypto's market share has increased significantly to 43 percent, compared to 23.4 percent early last year.
With this position, Tokocrypto competes with the market share of Indodax (42 percent) and Upbit Indonesia (15 percent).
Research by Coingecko revealed that Tokocrypto's entry into the Binance ecosystem in December last year was one of the triggers behind the company's business acceleration.
Binance's move to set up its business in Indonesia is also not without reason. Binance boss Changpeng Zhao (CZ) said that Indonesia has interesting development potential.
Yudhono Rawis, Tokocrypto's Chief Executive Officer (CEO), said that the company's main focus right now is to develop a solid business strategy so that it can continue to dominate the Indonesian digital asset market.
It is realigning its basic business, which is reflected in the earnings figures for the first months of the year.
“So we're on track to reach our goal,” Yudho said
He explained that with more than 3 million registered users, Tokocrypto has seen impressive success with an average trade transaction volume of around $300 million per month in the first half of 2023.
Tokocrypto has been responsible as a company that collects taxes on crypto asset transactions.
For the period from January to May 2023, the total amount of taxes paid to the General Directorate of Taxes (DGT) of the Ministry of Finance from user transactions was IDR 42.4 billion.
It offers a large number of listed crypto assets with a total of over 350 tradable assets.
With so many choices, users can easily create a portfolio that suits their investment goals.
“In the second quarter of 2023 we started to improve communication with customers and markets very well. We also work with financial institutions, starting with banking, and there will be other collaborations in the future, such as with e-commerce, F&B and media groups,” explained Yudho.
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