JAKARTA, Indonesia, April 9, 2021 — On, April 7, 2021, Binance Smart Chain (BSC) officially began trading their signature self-built “Toko Token” (TKO), Indonesia’s first local virtual currency project on Binance Launchpad, the largest virtual currency launchpad worldwide, according to Tokocrypto.
The currency was launched with $0.1 per coin with a total supply of 500 million shares and enables high-speed transactions at low fees. TKO recorded an oversubscription of 201,406 individuals with a total of 10,502,201 BNB at the launch date.
The TKO offers a unique hybrid feature by combining the advantages of both the Centralized Finance (CeFi) and Decentralized Finance (DeFi) model which is the first in Indonesia. “The birth of TKO is a big achievement for us. It will be the most appropriate vehicle to help Indonesian realize the unlimited potential that we can achieve through blockchain technology,” said Pang Xue Kai, Founder & CEO of Tokocrypto platform.
Accordingly, the ResearchAndMarkets.com in December 2019 reported global fintech market are showing a significant increase in 2018, reflecting greater application of blockchain in financial services around the world. The research covered Southeast Asian countries and it forecasted blockchain market size will reach US$23.3 billion by 2023, representing a CAGR of 81% over the period from 2018 to 2023.
“The age of blockchain and virtual currency is here. With the technology from BSC that offers user-friendly services, it allows Indonesia with a large population of approximately 270 million to enjoy a financial system that is equivalent to developed countries,” said Kai.
Kai explained, as the first local Indonesian virtual currency project, TKO offers a hybrid currency model. Several services the currency offers are Exchange Platform Token that offers trading fee discounts, airdrop entitlement, merchandise redemption.
TKO can be used in deposit and savings programs such as TKO Deposit, TKO Savings, and TKO Cashback. Furthermore, as DeFi product, TKO will be integrated on third-party DeFi platforms via farming pools, lending, and more. Finally, the Tokocrypto will pioneer the Indonesian NFT landscape with Indonesia’s first-of-its-kind marketplace for digital collectibles and creative assets from emerging young artists.
He continued, “Through TKO, we aim to build an “Indonesia Strategy” for Indonesians, where this solution can reach out to everyone in the country on top of general financial services,” said Kai.
According to the Asian Scam Report 2024 published by the Global Anti-Scam Alliance (GASA), over 40% of Asians encounter scams monthly. Hong Kong and Thailand face scams most frequently, with up to 90% of its citizens facing scams once per month or more. Identity theft, investment fraud, and online platform scams are among the most common threats, bearing the brunt of a $688 billion scam burden in 2024 alone.
Scammers are constantly evolving their techniques and utilizing new technologies such as AI and blockchain. Additionally, illicit funds are moving across borders. To effectively intercept these funds and combat fraud, a robust cross-border joint defense network is essential.
Taiwan’s FinTechOn 2024 forum took place on 4th November and the Asia FinTech Alliance (AFA) made its debut at FinTechOn this year, where representatives of FinTech associations from 14 Asian economies signed a memorandum of understanding (MOU) on anti-fraud collaboration. The goals include raising public awareness of FinTech-related fraud; establishing channels for sharing information and insights on anti-fraud; developing and promoting best practices in anti-fraud; and creating a unified cross-border approach to handle reported fraud incidents internationally.
“Virtual asset regulation and fraud prevention require both public-private collaboration and international cooperation,” said Jin-Lung Peng, Chairman of Taiwan’s Financial Supervisory Commission (FSC). “AFA and international platforms like FinTechOn facilitate partnerships and exchanges among countries to address the most pressing FinTech challenges.”
“Taiwan has completed amendments to four anti-fraud laws and the Money Laundering Control Act to enhance its regulatory framework. To build public trust in the virtual asset industry and bolster industry confidence, it is essential to foster smooth dialogue between the government and industry stakeholders,” said Shih-Chieh Huang, Deputy Minister of Taiwan’s Ministry of Justice, who expressed strong support for AFA’s anti-fraud initiative.
AFA was formally launched last year and recently marked its first anniversary. Jalcyn Tsai, Honorary Chairwoman of Taiwan FinTech Association (TFTA), serves as the founding Chairperson of AFA, which comprises association members from 14 Asian economies, including TFTA, Korea FinTech Industry Association (KORFIN), Elevandi Japan, Philippines’ Fintech Alliance.Ph, FinTech Association of Malaysia (FAOM), Thai FinTech Association (TFA), FinTech Association of Hong Kong (FTAHK), Singapore FinTech Association (SFA), Fintech Indonesia, Mongolian Fintech Association (MFA), Cambodia Association of Finance and Technology (CAFT), FinTech Alliance Nepal, Vietnam Fintech Club, and India’s Fintech Convergence Council (FCC).
“International cooperation, tracking and eliminating the source, and law enforcement via technologies are key priorities in combating fraud,” stated Tou-Hui Chang, Chief Prosecutor of Taiwan High Prosecutors Office. “It’s challenging to combat cross-border fraud as the operation centers of illicit actors are always set overseas. With this backdrop, it’s critical to build international cooperations, including mutual legal assistance and coordination among law enforcement, police, and the private sector, such as partnerships between virtual asset exchanges across different countries.”
Regulation and anti-fraud are the two major topics in FinTechOn forum this year. FinTechOn is Taiwan’s most authoritative FinTech policy discussion platform. AFA’s participation in this forum underscores Taiwan’s leading role in Asia’s FinTech regulatory harmonization
About Taiwan FinTech Association (TFTA)
The Taiwan Fintech Association (TFTA) is a non-profit organization that aims to promote the development and innovation of financial technology (fintech) in Taiwan. It was established in 2017 and has since become one of the leading voices in the fintech industry in Taiwan.
TFTA advocates for regulatory policies and measures that support fintech innovation both domestically and internationally. TFTA has strong connections with government units, industry stakeholders, and international organizations. TFTA serves as a crucial platform for connecting, collaborating, and facilitating development within the Taiwan fintech community.
TFTA is an official member of the Asia Fintech Alliance (AFA), which is an alliance comprising FinTech associations from various Asian countries and regions.
This strategic partnership between TFTA and the AFA enables Taiwan to actively engage with the wider Asian FinTech community, aligning with regional trends and amplifying the country’s influence in the global FinTech landscape.
Chemonics International, a leading sustainable development company, announced its acquisition of Luvent Consulting, a prominent Berlin-based company specialising in sustainable development solutions. This strategic partnership signals Chemonics’ commitment to expanding its presence in Europe and beyond, as it continues to address complex global challenges.
With 50 years of experience, Chemonics has established itself as a trusted partner in delivering innovative and effective development solutions in more than 150 countries. By joining forces with Luvent’s expertise and network, Chemonics aims to strengthen its support for international partnerships working towards tailored, locally driven solutions to communities around the world.
“Acquiring Luvent Consulting represents an exciting milestone for Chemonics as we grow our client base and expand our capabilities,” said Jamey Butcher, Chemonics President and CEO. “Luvent’s extensive experience and understanding of the sustainable development landscape align seamlessly with our mission to promote meaningful change worldwide. Together, we look forward to driving even greater impact and advancing the sustainable development goals.”
Luvent brings a wealth of knowledge and experience as a specialist in international development, delivering innovative solutions in digital transformation, private sector development, and climate action. As a value-driven company, the Luvent team has successfully implemented projects worldwide on behalf of European donors, earning recognition for their innovative approaches, measurable results, and inclusive partnerships.
“We are thrilled to join forces with Chemonics, a leader in the international development sector,” said Alexander von Brühl-Pohl, Co-Founder and Managing Director of Luvent. “This partnership will enable us to leverage our expertise on a larger scale, reaching more communities and driving positive change where it is needed most.”
“This acquisition marks an exciting new chapter for Luvent Consulting as we integrate Chemonics’ extensive global resources with our innovative approach to international development,” said Benedikt Pollmeier-Aletras, Co-Founder and Managing Director of Luvent. “We are eager to leverage Chemonics’ deep experience and infrastructure to deliver even more impactful and sustainable solutions, especially in partnership with European funding institutions. Together, we can drive forward the evolution of development cooperation in a purposeful and value-driven way.”
The acquisition of Luvent underscores Chemonics’ commitment to fostering collaboration and innovation in the global development community. By combining resources, networks, and expertise, Chemonics and Luvent aim to deliver sustainable solutions that address the world’s most pressing challenges, from poverty alleviation to environmental conservation.
About Chemonics International:
Chemonics International is a leading sustainable development company that works in more than 100 countries around the world. Our mission is to promote meaningful change to help people live healthier, more productive, and more independent lives.
About Luvent:
Luvent Consulting is Europe’s specialist in developing and implementing innovative solutions for the most pressing challenges in international development. By focusing on digital transformation, climate action, and sustainable economic growth through private sector partnerships, we are dedicated to delivering value-driven, transformative projects that create lasting impact, empower communities, and safeguard the well-being of future generations.”
MIAMI, FL: Startup Nightmare Miami returned for its second edition, successfully elevating the entrepreneurial landscape of South Florida. This unique event took place on October 24 at Mana Tech, inviting entrepreneurs and innovators to confront their fears, share their stories, and learn from industry leaders.
Building on the success of its inaugural edition, Startup Nightmare Miami aims to foster and grow a supportive community where entrepreneurs could face their challenges head-on. The event featured engaging panel discussions, pitch sessions, and networking opportunities designed to inspire attendees to overcome their obstacles and turn their visions into reality.
This year’s edition brought together a diverse lineup of speakers—including Henry Woodman, Entrepreneur; Katy Carrigan, CEO of Goody and Rodrigo Bernardinelli, CEO of Digibee.
The event culminated with the announcement of Flowlie as the winner, who took home over $50,000 in prizes to support their entrepreneurial journey. This recognition draws on Startup Nightmare Miami’s dedication to championing bold ideas and emerging talent in Miami’s thriving tech scene.
“Startup Nightmare Miami is a movement that empowers entrepreneurs within our community,” said Guillermo Gonzalez Aleman, Co-founder of Startup Nightmare and CEO of Litebox. “By confronting fears, sharing setbacks, and openly discussing the realities of entrepreneurship, we fostered a community of resilience and connection through shared experience. We are deeply committed to building an environment where founders can learn, connect, and thrive. This year’s gathering of over 100 entrepreneurs demonstrated that Miami’s pioneering mindset is bold, driven, and ready for more.”
As Startup Nightmare Miami continues to grow, it is poised to become a staple for South Florida-based founders, offering invaluable opportunities for startups to connect with investors and mentors in this thriving business hub.
For additional details about Startup Nightmare Miami and future events, visit www.startupnightmare.com
About Startup Nightmare
Startup Nightmare is an exclusive event founded in Miami to bring together early-stage and Series A tech startups, venture capitalists, and industry experts for raw, unfiltered conversations on the real challenges of entrepreneurship. Startup Nightmare provides a unique platform for founders to share genuine stories that resonate with the startup ecosystem. With a focus on transparency, connection, and learning, the event supports a thriving tech community by fostering an environment where founders and investors alike can gain insights from each other’s experiences.