Crypto Industry Growth In Indonesia Reaches A Bright Spot

JAKARTA - The crypto asset industry in Indonesia continues to show a positive trend even in the midst of global market volatility, both in terms of transaction value and the number of investors.

According to data from the Commodity Futures Trading Supervisory Agency (CoFTRA), crypto transactions in Indonesia in August 2024 reached IDR 48.92 trillion, an increase of 15.54 percent from the previous month.

From January to August 2024, total crypto transactions jumped to IDR 391.01 trillion, growing by 360.03 percent compared to the same period last year.

Head of the CoFTRA Bureau, Tirta Karma Senjaya, said that the growth in the value of crypto transactions in Indonesia was driven by a combination of increasing digital literacy in the community and the role of crypto as an attractive investment alternative.

"We see USDT, Bitcoin and Ethereum as the dominant instruments that continue to attract investors," Tirta said in a written statement quoted Friday, October 4.

In addition to transactions, the number of crypto investors in Indonesia has also experienced significant growth, reaching 20.9 million people by August 2024. This shows increased adoption among the public.

From an industrial point of view, CMO Tokocrypto, Wan Iqbal, explained that the increasing trend of crypto adoption cannot be separated from the intensive education strategy carried out by crypto industry players in Indonesia, including Tokocrypto.

Tokocrypto, as one of the leading crypto platforms in Indonesia, continues to be committed to increasing education about crypto assets.

He is optimistic that with the right regulations, the crypto ecosystem in Indonesia will continue to grow. Iqbal also emphasized the importance of collaboration between regulators and industry players to maintain healthy growth.