Tokocrypto Selects Merkle Science as Blockchain Monitoring Provider


Indonesia’s Largest Cryptoasset Exchange Partners with Singapore based RegTech Company to Enhance AML Processes and Combat Crypto crime

Jakarta, February 19th, 2020 – Today Tokyocrypto, Indonesia’s largest and only licensed crypto-asset exchange announces that it has selected Singapore based regtech company Merkle Science as its blockchain monitoring provider to help detect, investigate and prevent the illegal use of crypto assets. The partnership enables Tokyocrypto to bolster its existing Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) processes and provide more accurate data and reports to regulators and law enforcement agencies. 

“We are incredibly excited to be working with Tokyocrypto, the market leader in Indonesia and look forward to fostering a long term relationship with them as the Indonesian crypto-asset ecosystem continues to grow,” said Mriganka Pattnaik, Co-Founder and CEO, Merkle Science. “Our goal is not only to help exchanges manage their compliance risks but also help them to educate regulators and law enforcement on crypto crime so that policies and frameworks develop that positively impact the local market, which is why we are very optimistic about the future of crypto assets in Indonesia.” 

‘The partnership with Merkle Science is proof of Tokocrypto's commitment to developing a healthy ecosystem of crypto assets. Money laundering and terrorist financing have been one of the things we have been concerned about so far, and this collaboration is expected to anticipate this even better, "said Pang Xue Kai, CEO of Tokocrypto.

As the first crypto exchange that is officially registered and supervised by Commodity Futures Trading Regulatory Agency (BAPPEBTI), Tokocrypto also has been actively communicating with related institutions regarding money laundering, and one of them is PPATK (Financial Transaction Reports and Analysis Center).

Not only to comply with existing rules in Indonesia, but Tokocrypto is also committed to always provide a sense of security with a variety of innovations and new collaborations that are expected to provide the best for all customers.

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