Crypto Market Expanding, National Ecosystem Needs Strengthening
The number of crypto asset consumer accounts in Indonesia reached 2cap2.93 million as of July 2026, with transaction values throughout January-July 2026 amounting to approximately Rp171.12 trillion. This growth has intensified focus on strengthening the local crypto ecosystem, ensuring consumer protection, and preventing the use of illegal platforms.
These issues were discussed during the Indonesia Digital Financial Economic and Finance Festival (FEKDI) x Indonesia Fintech Summit & Expo (IFSE) 2026, which brought together regulators, digital finance industry players, and digital talent.
William Sutanto, CEO of Indodax and Secretary General of the Indonesian Blockchain Association (ABI), stated that the large user base and the economic value generated indicate that the crypto industry continues to expand. However, the borderless nature of cryptocurrency allows the public to access platforms from various countries.
“The crypto industry holds great economic potential and is currently still developing. Crypto is borderless in character, meaning the public can access various exchanges from anywhere,” William said in a press release on Saturday (27/9/2026).
According to William, this condition makes public literacy regarding licensed platforms and the risks of using illegal platforms essential. He also believes that associations, regulators, exchanges, and industry players need to build a healthy competitive environment.
“First, certainly literacy for the public, including explaining which platforms are licensed in Indonesia and the risks incurred when using illegal platforms. Furthermore, associations, regulators, exchanges, and industry players need to continue discussing how to create a healthy level playing field,” he added.
In the same forum, the Chair of the OJK Board of Commissioners, Friderica Widyasari Dewi, stated that digital financial innovation needs to move from the experimental stage towards implementation that provides benefits to the real economic sector.
OJK continues to provide space for the development of digital asset innovation through the regulatory sandbox mechanism. Based on statements in the forum, several business models have undergone this process, including the tokenisation of gold, government securities, property, stablecoins, digital financial asset custody, and crypto asset funds.
This development shows that the use of blockchain technology is beginning to expand beyond crypto asset trading. The tokenisation of Real World Assets (RWA), for example, allows physical assets to be represented in the form of tokens based on blockchain technology.
According to OJK, this technology has the potential to increase efficiency, transparency, and liquidity, as well as expand access to financial products.
Friderica stated that the development of digital innovation needs to be supported by four pillars: governance and regulation, cybersecurity and consumer protection, digital talent development, and inter-institutional synergy in the development of digital finance.
Indodax believes that the development of blockchain-based innovation must be accompanied by the strengthening of regulation, security, literacy, and communication between regulators and industry players. Such steps are deemed vital as the number of crypto asset users grows and digital asset innovation evolves.