Crypto assets have turned into the limelight over the past year. In a span of 12 months, bitcoin has soared from US $ 8,166 on March 8, 2020 to an all time high of US $ 58,000 in February 2021.
In Indonesia, crypto assets are one of the most popular investment options, especially since there are currently hundreds of crypto assets around the world. Of the 290 million people in Indonesia, the number of crypto asset investors in Indonesia is still at 2 million or slightly larger than the number of stock investors.
When talking about the market, several crypto asset industry players from other countries have started to enter Indonesia thanks to the belief that Indonesia has a potential market in the future.
Tokocrypto, as one of the crypto asset traders in Indonesia, on Tuesday (30/3) officially presented the Token Shop (TKO). A first local Indonesian crypto project to provide a unique hybrid token model - the CeFi and DeFi utilities.
Tokocrypto CEO Pang Xue Kai said, the launch of this TKO is a step forward in realizing Tokocrypto's mission to implement mass crypto adoption for 345.3 million users of the Tokocrypto platform and the TKO ecosystem.
Tokocrypto is in a unique position to combine the benefits of CeFi and Defi. He wants Tokocrypto to be able to offer solutions for the crypto asset market as well as crypto asset investors in Indonesia.
"Not only financial services, TKO will also cover other areas, such as supply chain management, privacy, data protection, and art through the form of NFTs. By being built on the Binance Smart Chain, this will help us realize the unlimited potential that we can achieve through blockchain technology, ”said Pang Xue Kai in a press release, Tuesday (30/3).
Pang said that TKO also combines the advantages of the two worlds in blockchain, namely CeFi and DeFi. In utilities, CeFi TKO can be used in savings programs such as TKO Deposit, TKO Rebate, TKO Savings and TKO Cashback. Meanwhile on the DeFi platform, TKO can also be used in farming pools and lending.
In addition, TKO will become the backbone of the NFT Market, because it can be used as payment for the TKO NFT Arcade / Marketplace, a market for digital collectibles and creative assets from new artists.