Crypto Asset Transactions Soared To IDR 10.64 Trillion, CEO Of Indodax Optimistic That Indonesia's Crypto Industry Grows Rapidly

Indodax CEO, Oscar Darmawan. (Photo: Doc. Indodax)

JAKARTA - The surge in crypto asset transactions in August 2023 in Indonesia was recorded at IDR 10.64 trillion, an increase of 13.5 percent compared to July 2023. Fantasticly, based on data from Deputy Minister of Trade Jerry Sambuaga, the total value of crypto asset transactions in the January-August 2023 period was IDR 86.45 trillion.

According to INDODAX CEO, Oscar Darmawan has increased significantly in crypto asset trading transactions, of course, due to the increasing growth in the number of crypto asset investors in Indonesia.

"Based on data from the Ministry of Trade, as of August 2023, 17.7 million customers were registered in the crypto asset market. In August 2023, 119 thousand subscribers were also recorded. The average increase in the number of registered customers reached 466 thousand customers every month," said Oscar, in his statement, quoted on Sunday, September 24.

This astonishing growth, according to Oscar, clearly proves that the Indonesian people are increasingly fascinated by investing in crypto assets.

"Currently, the public has a more mature understanding of the potential and benefits of crypto assets as one of the interesting modern investment instruments," said Oscar.

This high level of understanding, according to Oscar, will help people make investment decisions that are smarter and more informed. Therefore, INDODAX as the trusted crypto exchange in Indonesia will continue to strive to provide education to crypto asset investors through INDODAX Academy.

Especially in 2024, it is in sight, where Bitcoin is predicted to experience a halving day. Therefore, investors have started competing to collect Bitcoin so that their investment is profitable. INDODAX has also prepared features for investing in crypto regularly, which can be accessed on INDODAX applications and websites," said Oscar.

According to Oscar, the existence of crypto exchanges in Indonesia also helps strengthen public confidence in crypto assets in Indonesia. Because crypto exchanges make uncertainty less.

The presence of this crypto exchange makes Indonesia listed as the first country to have a complete crypto trading ecosystem, including investors, physical traders of crypto assets, exchanges, depository, and clearing.

"The existence of this crypto exchange will be the main key in shaping a healthy and safe Indonesian crypto investment climate," said Oscar.

Oscar also said that currently industry players still have not followed and implemented the regulations mandated in Perba CoFTRA and SRO institutions such as exchanges, clearing, and depository.

"For INDODAX, the current regulations in Indonesia are very good. INDODAX has also implemented and proven that it is able to follow existing regulations by carrying out proof of review, as this is in line with the spirit of regulation from BAPPEPTI to protect the community. Therefore, we want to invite industrial friends to immediately implement the arrangements of this regulator," said Oscar.

He is also optimistic that with the crypto exchange, the volume of crypto asset trading will continue to increase, and can have a positive impact on national economic growth.

"The establishment of this crypto exchange will also enliven Indonesia's crypto market and create more job opportunities and innovation in the Indonesian digital economy sector," said Oscar.

Therefore, Oscar emphasized the importance of the role of the government and stakeholders in developing a strong and sustainable crypto asset ecosystem in Indonesia.

"We are grateful for the full support from the government, regulators, and all stakeholders for supporting the crypto asset industry," Oscar concluded.