A crypto asset based on the decentralized finance (DeFi) system, Tadpole Finance (TAD), is now officially allowed to be transacted in Indonesia. This follows the inclusion of TAD in the latest list of officially licensed crypto assets from BAPPEBTI.

Tadpole Finance CEO Wildan Ramadhan said, with the inclusion of TAD in the list of crypto assets under BAPPEBTI’s supervision in accordance with SK number 11 of 2022, blockchain developers and investors in Indonesia can use the token more safely.

“We are grateful and proud to have entered the list of BAPPEBTI crypto assets that can be traded in Indonesia. This will certainly increase public confidence in our products,” he said in his statement.

He further reported that currently Tadpole Finance has a market capitalization of more than IDR 17 billion at a price of around IDR 31,000 per token. Based on coinmarketcap data, TAD is currently ranked as the 1,435th largest market cap.

“In the future, Tadpole Finance plans to develop its business by developing various other 3 web products,” said Wildan.

Currently, investors can transact TAD through the crypto platform, Indodax. Wildan hopes that TAD can maximize the potential of large investors in Indodax.

Meanwhile, Indodax CEO Oscar Darmawan said he was happy with the determination of the crypto list that was just released by BAPPEBTI as the regulator of the crypto market in Indonesia. According to him, this is a breath of fresh air for the growth of the crypto industry in the country.

“I hope that more native Indonesian tokens can enter this list in order to encourage and strengthen the crypto and blockchain ecosystem in Indonesia,” he said.

This article has been published on Kompas.com