It Is Predicted That 80 Percent Of The Unbanked Society, Indonesia's Potential To Become A High Crypto Hub

JAKARTA - Based on OJK records, the crypto industry in Indonesia has experienced a significant increase. This is the result of the hard work of all power holders in the crypto industry to advance the crypto ecosystem in Indonesia.

Until February 2024, the total number of crypto investors in Indonesia has reached 19.18 million people. This figure makes Indonesia the seventh country in the world with the largest number of investors. The total value of crypto transactions in Indonesia as of February 2024 also reached Rp33.69 trillion, with a total accumulation throughout 2024 amounting to Rp55.26 trillion, "said Hasan Fawzi, Chief Executive of the Financial Sector Technology Innovation Supervisory, Digital Financial Assets and OJK Crypto Assets.

As a business actor and crypto exchange in this industry, INDODAX, sees the higher and higher public interest in crypto assets.

INDODAX is very happy to see the growth of investors and the value of crypto transactions in Indonesia. This shows that public interest in crypto assets is getting higher. As one of the pioneers of crypto exchanges in Indonesia, INDODAX continues to strive to provide the best education and services for crypto investors in Indonesia," said Oscar Darmawan, CEO of INDODAX, in a written statement, Sunday, April 7.

Oscar Darmawan also said that Indonesia has the potential to become a crypto hub because it has a strong enough foundation to develop the Indonesian crypto industry.

Indonesia already has a potential market share to advance the crypto industry. Currently, 69 percent of Indonesians are in the age range of 15 to 64 years. Indonesia is also predicted to experience a demographic bonus spike in 2045, and currently 80 percent of the people in Indonesia are unbanked or underbanked according to the Ministry of Finance's records. This is an opportunity and opportunity that must be taken advantage of by educating them about crypto investment, "said Oscar Darmawan.

Moreover, Oscar Darmawan, said, in general, Indonesians have the attitude of FOMO (Fear of Missing Out) and dare to try new things.

This FOMO nature can be an additional boost for the crypto industry to get Indonesians to try crypto assets. Plus, people's dynamic behavior patterns tend to be brave enough to keep up with technological developments. With the support of appropriate education and adequate services, we can take advantage of this great potential to strengthen Indonesia's position as a regional crypto center," said Oscar Darmawan.

Not only that, according to Oscar Darmawan, the mature regulation and ecosystem of the crypto industry in Indonesia is also a provision for the crypto industry in Indonesia to continue to grow.

"The importance of mature regulations and ecosystems in the crypto industry cannot be ignored. Clear and detailed regulations will provide legal certainty for industry players and investors. Meanwhile, the matureness of the crypto ecosystem can create a stable and sustainable environment, and can be trusted to operate," said Oscar Darmawan.

The existence of a Crypto Futures Exchange, Clearing, Storage Storage Storage Manager (Depository), as well as mature regulations, according to Oscar Darmawan, shows Indonesia's strong commitment to developing regulations that are in accordance with the development of the crypto industry. This provides additional trust for stakeholders in developing investment and business in the crypto industry.

In addition, Oscar Darmawan also highlighted the importance of cooperation between the public and private sectors in strengthening the Indonesian crypto ecosystem.

"INDODAX believes that collaboration between the public and private sectors is the key to success in advancing the crypto industry in Indonesia. With strong synergy, we can create a conducive environment for growth and innovation in this industry," concluded Oscar Darmawan.