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Randy Mulyanto · · 4 min readTokocrypto to launch futures trading as competition grows
With additional reporting by Niken Nurani.
Tokocrypto plans to launch built-in futures trading in the first half of 2026.
The company is owned by Binance and ranks among Indonesia’s largest crypto exchanges by user base.
As of January, Tokocrypto has over 4.8 million users. / Photo credit: Tokocrypto
“We are expecting it to go live around the end of the first quarter or early in the second quarter,” says Tokocrypto CEO Calvin Kizana, who spoke with Tech in Asia at the Indonesia Crypto Outlook 2026 event hosted by the company. He adds that the release of the new feature is still pending administrative processes and approvals from Indonesian authorities.
Kizana notes that while there are crypto companies in Indonesia already offering futures, “the liquidity is not very good.”
“There’s a lot of slippage – that’s what we want to fix,” he says, referring to the difference between executed and expected crypto trade prices.
Kizana did not elaborate on the structural reasons behind the shallow liquidity and frequent slippage in Indonesia’s futures market. However, industry data suggests that local liquidity remains less competitive compared to other countries.
A report by Indonesian state news agency Antara quotes local crypto market players as saying that a significant share of domestic trading activity still flows to overseas platforms in search of more efficient execution and deeper liquidity. This can limit market depth onshore and increase the likelihood of slippage, particularly for larger trades.
Tokocrypto CEO Calvin Kizana speaking at Indonesia Crypto Outlook 2026 / Photo credit: Tokocrypto
“Traders can be liquidated unexpectedly. This often happens when liquidity is thin and the market depth is not sufficient,” says Kizana. “That’s why users can’t be blamed for choosing to trade futures on overseas exchanges.”
See also: After riding the wave, Indonesia’s crypto space braces for impact
He warns that Indonesia risks becoming an off-ramp market for crypto trading. “Users generate profits, hold their USDT, transfer it, and then convert it into Indonesian rupiah, while all trading activity takes place abroad,” he says.
Futures for future growth
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Tokocrypto CEO Calvin Kizana talks to Tech in Asia about the new feature, the gaps in Indonesia’s crypto market, and the exchange’s expansion.
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