Binance has acquired Indonesian cryptoasset broker Tokocrypto, according to local reports on December 19. The purchase was confirmed in a tweet by Binance CEO Changpeng Zhao (CZ).
Tokocrypto founder Pang Xue Kai will reportedly step down as CEO and will be replaced by Yudhono Rawis as interim head. Pang Xue Kai will remain on the company's board of directors.
Pang Xue Kai, said "This decision was made after careful consideration and we decided that the best step for Tokocrypto in the future is to leverage Binance's capabilities to build an additional physical trading platform for cryptoassets."
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