Heaptalk, Jakarta — Indonesia’s Commodity Futures Trading Regulatory Agency (CoFTRA) reported that the value of crypto transactions in Indonesia attained about US$34.4 billion, approximately Rp556.53 trillion from January to November 2024. This outcome represents a significant increase of 356.16% compared to Rp122 trillion during a similar period in 2023.
Acting Head of CoFTRA, Tommy Andana, further explained that the number of cryptocurrency customers reached 22.1 million by November 2024, with 1.3 million active traders transacting through Prospective Crypto Physical Traders (CPFAK) and Crypto Physical Traders (PFAK) in November 2024. The top traded cryptocurrencies in November 2024 included Tether (USDT), Bitcoin (BTC), Dogecoin (DOGE), Pepe (PEPE), and XRP (XRP).
“The increasing number of customers demonstrates the substantial potential of Indonesia’s cryptocurrency market. In the coming years, Indonesia is predicted to become one of the leading cryptocurrency markets globally,” Tommy added.
CoFTRA continues strengthening collaborations with self-regulatory organizations (SROs), associations, and industry stakeholders to develop the cryptocurrency ecosystem and governance. This effort aims to enhance regulation and literacy among the public. This institution remains optimistic about further increases in cryptocurrency transaction values in 2025.
CoFTRA also encourages CPFAKs to transition to PFAK status. Currently, nine nine companies have attained PFAK status, including PT Pintu Kemana Saja (Pintu), PT Bumi Santosa Cemerlang (Pluang), PT Aset Digital Berkat (Tokocrypto), PT Kagum Teknologi Indonesia (Ajaib), PT Tiga Inti Utama (Triv), PT Sentra Bitwewe Indonesia (Bitwewe), PT CTXG Indonesia Berkarya (Mobee), PT Rekeningku Dotcom Indonesia (Reku), and PT Ekripsi Teknologi Handal (Usenobi).
“We hope other CPFAK-status companies will soon become PFAKs,” Tirta concluded.