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Tokocrypto Collaborates with ICH to Increase Crypto Asset Investor Trust
Tokocrypto Collaborates with ICH to Increase Crypto Asset Investor Trust
Thursday, 27 May 2021

Jakarta, Beritasatu.com - As the first crypto asset trader to be regulated by Bappebti, Tokocrypto also prioritizes the security of the crypto-asset ecosystem for the convenience of investor transactions. To support this, Tokocrypto collaborated with the Indonesia Clearing House (ICH), an official clearinghouse for reporting and registration of crypto assets traded or stored by crypto asset traders.

ICH has served as a guarantee and transaction settlement and risk management center for transactions that have occurred in the Indonesia Commodity & Derivatives Exchange (ICDX) since 2009. Where in Indonesia, crypto assets are included in the category of commodity financial assets and the ICH clearinghouse has been running commodity trading operations, and has obtained ISO 27001 certification.

"This collaboration with ICH proves our concrete steps to ensure crypto-asset transactions that occur at Tokocrypto are under the supervision of related official clearinghouses and are in line with the provisions set by Bappebti. So it is hoped that it can provide a sense of security and foster trust for investors to transact in Indonesia," said Teguh Kurniawan Harmanda (Manda) as the COO of Tokocrypto in a press release, Monday (24/5/2021).

Through this collaboration, Tokocrypto will report records of crypto-asset ownership that are traded or stored in real-time every day to the ICH clearinghouse, while ICH will prepare an electronic system related to guarantee and settlement of crypto-asset physical market transactions.

This is in line with Bappebti Regulation No.5 / 2019 concerning Technical Provisions for the Implementation of the Physical Crypto Asset Market at the Futures Exchange from Bappebti, where crypto asset traders are obliged to report daily transactions of crypto assets and funds in depositing banks.

“We welcome Tokocrypto's initiative to build a safer crypto-asset investment ecosystem and become the first crypto asset trader to collaborate with ICH. We hope that the integration between Tokocrypto and ICH can further support the positive growth of the crypto-asset industry in Indonesia," said Nursalam, President Director of ICH.

To build a sense of security and investor confidence in transactions, Tokocrypto has also been certified with ISO 27001 regarding information security management systems and also ISO 27017 regarding information security in cloud computing. To date, Tokocrypto has recorded active traders reaching >90,000 per week, daily transaction volume reaching approximately US$60,000,000 and total mobile apps downloaded more than 500,000 since it was first launched in October 2020.

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