OJK Targets Large Transformation In The Digital Finance Sector And Crypto Assets In The Next 5 Years

Illustration. (Photo: Unsplash)

JAKARTA - The Financial Services Authority (OJK) estimates the rapid development in the Technology Innovation sector in the Financial Sector (ITSK) and crypto assets in Indonesia.

Based on the projection submitted by the OJK, the number of ITSK products and services is expected to increase from 5 to 100 products in 2028 with partnerships in this sector also expected to grow significantly, from 953 to 5,000 partnerships. In addition, the number of ITSK users is projected to increase rapidly from 277,887 to 5 million users.

On the other hand, OJK projects that the transaction value will experience rapid growth, reaching IDR 1,000 trillion in 2028, more than three times compared to the transaction value in early 2024 which amounted to IDR 301.75 trillion.

This projection reflects OJK's confidence in Indonesia's great potential in creating an inclusive digital financial ecosystem to build a strong, sustainable ITSK sector, and to be able to maintain stability and protection for consumers.

Responding to the OJK roadmap, INDODAX CEO, Oscar Darmawan, welcomed this. According to him, the projection given by the OJK is not just a number, but a reflection of the extraordinary potential that the financial technology sector in Indonesia has.

"This ROADmap is an important step that will significantly encourage the growth of the ITSK and crypto sectors. The projection given by the OJK reflects confidence in Indonesia's capacity to become one of the leaders in digital financial innovation," said Oscar, in his statement, Monday, August 26.

Oscar Darmawan emphasized that INDODAX is ready to be part of a major transformation in the Indonesian crypto ecosystem by continuing to innovate and expand the reach of services.

"INDODAX is committed to continuing to develop technology and solutions that are in line with the OJK roadmap. We believe, through strong collaboration and support from various parties, we will be able to achieve significant results in the development of this sector, as well as strengthen Indonesia's position on a global scale," he explained.

Oscar also emphasized the importance of digital literacy as a key element in achieving the projected increase in ITSK users to 5 million people by 2028. He acknowledged that the biggest challenge faced was massive education to the public.

For this reason, INDODAX is committed to continuing to innovate in developing digital literacy programs. As part of efforts to improve digital literacy, INDODAX has developed an educational program through the INDODAX Academy. This program can be accessed for free through various platforms, including the website, YouTube, and INDODAX's official social media platform.

INDODAX Academy provides a variety of crypto learning materials that include basic understanding of crypto to more complex investment and trading strategies.