Reku Pockets Crypto Staking License from Bappebti
There are at least five different coins that can be staked with rewards of up to 12,5% per year
The official crypto exchange and marketplace platform Reku became the first platform to receive written approval to offer services staking from the Commodity and Futures Trading Regulatory Agency (Bappebti). It also revealed that Reku is the only crypto market platform that won this license in early June 2023.
Previously, Reku had collaborated with CoFTRA in implementing rules and regulations staking since September 2, 2022. Obtaining this license further strengthens Reku's position as a service provider staking reliable. Regulators can also evaluate, conduct audits, and strictly monitor the Reku system to minimize the risk of data misuse.
Co-Founder & CCO Reku Robby really appreciates BAPPEBTI's support for the development of the crypto ecosystem in Indonesia. "This support is not only displayed in written form in a decree, but Reku is committed to continuing to innovate for the betterment of investors in Indonesia and upholding compliance with existing regulations," he said.
To maintain credibility, Reku consistently sends reports to BAPPEBTI every day. The company also provides transaction transparency that users can see at blockchain through wallet addresses Reku.
Tirta Karma Senjaya, Head of the Commodity Futures Trading Development and Development Bureau added, "Strict selection needs to be carried out before getting a decision from the head of BAPPEBTI to issue a letter of approval for additional scope of prospective crypto asset traders. So, it is important for staking products to be standardized to ensure the safety of crypto investors in Indonesia."
Founded more than five years ago, Reku is one of the pioneers of crypto companies in Indonesia with around 500 thousand users to date. Previously, Reku had obtained series A pendanaan funding $11 million led by AC Ventures, with participation from a number of prominent investors, including Coinbase Ventures.
Service provider staking in Indonesia
In the context of crypto assets, staking means locking crypto assets into the blockchain network to earn passive income without having to buy or sell trades. At Reku, there are at least five different coins that can be staked with rewards of up to 12,5% per year, starting from Cardano (ADA), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Polkadot (DOT), and Tezos (XTZ).
With market fluctuation conditions that are still quite dynamic, for investors who see medium to long term results, investing in staking can be a suitable choice. Reku allows concept staking which is quite as flexible as it can be stakes and unstake anytime with no minimum amount.
In Indonesia, apart from Reku, there are several platforms that also offer similar services. One of them is Nobi, who provides three service options, namely Strategy, Savings, and Staking which can be selected according to the needs and risk profile of investors. Each strategy is operated by a "Robo Trading" system that works 24 hours automatically.
In addition, several crypto asset investment platforms such as Pintu also have Pintu Staking. For holders Pintu Token (PTU), simply by locking the PTU Token assets owned can get a variety of exclusive benefits. The Indodax crypto platform also allows staking of Polkadot (DOT) assets with a minimum staking of 10 DOT.
The concept of investing in a way staking This is very popular because it offers rewards or in return for participating in blockchain developments. However, reported from Cointelegraph, this concept has its own difficulties. The network, for example, is still dominated by the most significant token holders. This provides more power for early adopters and the people with the most money.