Crypto Asset Transactions In Indonesia Melejit 356 Percent, Tembus Rp556 Trillion

Illustration of crypto assets (photo: Unsplash)

JAKARTA - Based on data from the Commodity Futures Trading Supervisory Agency (CoFTRA), from January to November 2024, the value of crypto asset transactions reached Rp556.53 trillion.

This number increased sharply by 356.16 percent compared to the same period in 2023 which was only IDR 122 trillion.

This increase in transactions is in line with the growth in the number of crypto asset customers. Where until November 2024, CoFTRA recorded that the number of subscribers was recorded at 22.1 million people.

As one of the main players in the crypto asset industry, Tokocrypto welcomes this achievement and is optimistic about the growth prospects in 2025.

CMO Tokocrypto, Wan Iqbal, stated that crypto assets are now increasingly in demand by the Indonesian people as an innovative and potential investment alternative.

Moreover, with the existence of regulations that are getting better and the government's support for the digital economy, Iqbal believes that business actors are optimistic that cryptocurrencies will become one of the main pillars of digital financial growth in Indonesia.

"We see this significant growth as a positive signal of public confidence in crypto assets as an investment and trade choice. However, we also agree that literacy and education are the main keys in maintaining a healthy and sustainable ecosystem," said Iqbal.

In line with the increase in the number of transactions and the number of crypto investors in Indonesia, Iqbal explained that crypto trading transactions in Tokocrypto throughout 2024 showed very significant growth compared to 2023.

Total trading volume from January to November 2024 reached more than 8 billion US dollars (Rp130 trillion), much higher than the total trading volume in the same period in 2023, which was US$2.8 billion (Rp45.3 trillion).