Indonesia Descends To The 7th Rank Of The World Crypto Adoption, What Causes It?

JAKARTA - The latest Chainalysis Global Crypto Operation Index 2025 shows that Indonesia is in 7th position in crypto adoption. Down from 3rd place last year.

According to Tokocrypto, one of the reasons for this decline is, because Chainalysis this year added a new sub-index that measures institutional activity, particularly transactions worth more than $1 million.

Countries with a mature financial ecosystem such as the US, India, and Brazil have received a strong boost from the participation of large institutions, including the presence of Bitcoin spot ETF products.

On the other hand, Indonesia is still stronger in the retail and DeFi segments, whose weight is now cut from the methodology. As a result, Indonesia's contribution looks smaller even though retail and DeFi activities are actually still massive.

Responding to this report, Tokocrypto CEO Calvin Kizana assessed that the decline in ranking does not mean that public interest in crypto is weakening, but rather shows that the global landscape is increasingly competitive.

According to him, with a large population of people, high digital penetration, and the interest of the younger generation in digital assets, Indonesia is one of the most potential markets in the world.

"This ranking is a reminder that we must move faster in strengthening the institutional side in order to complement established retail power," Calvin said in a statement quoted on Sunday, September 14.

Furthermore, Calvin said there are two strategic routes so that Indonesia can improve its position in the global index. First, the need to increase institutional participation in the domestic market spot so that large transaction volume can be more recorded.

"Secondly, we must encourage the presence of local crypto ETF products so that institutional investors have a safe, transparent and legal investment path," he added.

Not to forget, Calvin also emphasized the importance of synergy between regulators, industry and society.