Binance’s Tokocrypto Seeks New Investor to Expand Business

Tokocrypto, partly owned by Binance, is in talks with potential new investors that may be allowed up to 40% stake in the Indonesian crypto trading platform, its CEO Yudhono Rawis says at a media briefing.

• Co. is in discussion with 2-3 parties, including a local conglomerate and a retailer group hoping to incorporate crypto into their businesses
• Binance, which currently holds almost 100% stake in Tokocrypto, will see its ownership diluted once a deal is reached, which is targeted before the end of the year
• Tokocrypto says it has no more plans to cut jobs after reducing staff by ...