Crypto Asset Transactions in Indonesia Reach IDR 86.45 Trillion, Down Compared to Last Year

The number of crypto asset transactions in Indonesia has decreased (photo: Pixabay)

JAKARTA - The crypto market appears to be slowing globally, but in Indonesia it is experiencing interesting growth in the value of digital asset trading transactions.

According to data from the Commodity Futures Trading Supervisory Agency (Bappebti), in last August, the value of crypto asset transactions increased by 13.5 percent compared to the previous month, reaching a total of IDR 10.64 trillion.

During the first eight months of 2023, the total crypto transactions recorded in Indonesia have reached IDR 86.45 trillion.

Meanwhile, in the same period in the previous year, total crypto transactions in Indonesia still reached IDR 249.3 trillion. This indicates a sharp decline in transactions of 65.32 percent on an annual basis.

But on the other hand, public interest in crypto asset trading remains strong. According to CoFTRA data as of August 2023, the number of registered crypto customers reached 17,789,974 people.

This number continues to increase, with the addition of 119,410 customers in the past month, showing an increase in the number of customers by 466,382 every month.

Tokocrypto CEO, Yudhono Rawis, emphasized that public interest remains high despite the decline in transaction value, showing that people still have strong confidence in the future of crypto assets.

"There are several strong reasons behind this interest. First, crypto is an attractive investment alternative. Uncertain economic conditions make many people look for more stable investment opportunities," said Yudho.

Apart from that, Yudho also acknowledged the important role of increasingly clear regulations in supporting the growth of the crypto market in Indonesia.

Yudho hopes that this industry will continue to develop and provide benefits to society and the Indonesian economy as a whole.