COIN: Indonesia's First Global Crypto Exchange Ecosystem to Go Public

TheIndonesia.co - PT Indokripto Koin Semesta Tbk (COIN) officially made history as the 18th issuer in 2025 to be listed on the Indonesia Stock Exchange (IDX) on Wednesday, July 9, 2025. With the stock code COIN, the company marks a significant milestone as the world's first crypto asset exchange ecosystem whose shares are traded on the Indonesian capital market. The listing of COIN was positively received by prospective investors during its Initial Public Offering (IPO) from July 2-7, experiencing an oversubscription of more than 180 times with over 200,000 prospective investors placing orders.

Ade Wahyu, President Director of PT Indokripto Koin Semesta Tbk (COIN), believes that the high public enthusiasm for COIN shares reflects a growing trust in crypto assets as an investment instrument. He is optimistic that this outcome marks a positive beginning for COIN's journey in fostering a transparent, regulated crypto asset ecosystem with good corporate governance (GCG).

"We extend our gratitude to regulators, supporting professions, partners, and investors for their trust and support in welcoming COIN to the stock market," Ade stated in Jakarta. As the holding company of PT Central Finansial X (CFX) as a Crypto Asset Exchange and PT Kustodian Koin Indonesia (ICC), Ade believes the public's positive response to COIN shares signifies the increasingly widespread acceptance of crypto assets among the public. He also encouraged all parties to participate in oversight. Ade explained that by becoming a public company, COIN further strengthens an integrated and more regulated crypto asset ecosystem, allowing public oversight of its records and thus enhancing accountability within Indonesia's crypto asset industry.

Indonesia holds a highly strategic position in the global crypto industry. According to the latest report from Chainalysis Global Crypto Adoption Index, Indonesia ranks third globally in crypto asset adoption, climbing from its previous seventh position, making it the number one country in crypto asset adoption in Southeast Asia. This increase in crypto asset adoption is supported by a growing number of national crypto asset consumers, reaching 14.16 million people as of April 2025—a significant increase from 12 million in January 2025—and the total transaction value of Indonesian crypto assets reaching Rp650.61 trillion by the end of 2024.

"Through CFX Exchange and ICC Custodian Institution, which are operated transparently, innovatively, and adhere to good corporate governance principles, we believe the national crypto asset industry will continue to grow positively and sustainably," Ade affirmed. "Ultimately, CFX Exchange and ICC Custodian Institution are expected not only to be the home for the crypto asset industry in Indonesia but also to become a central trading hub for crypto assets in Southeast Asia".

Abraham Nawawi, Finance Director of COIN, added that through this IPO, COIN successfully raised a total of Rp220 billion, with an offering price of Rp100 per share. Abraham elaborated that 85% of these IPO funds will be allocated to support the working capital needs of its subsidiaries, CFX, and 15% for ICC, respectively. COIN's robust financial performance underpins this, with a significant year-on-year revenue increase recorded by the end of December 2024, achieving a net profit margin of 42.32% of total revenue.

"The company is optimistic about increasing revenue by the end of 2025 through product and business development undertaken by its subsidiaries, including crypto Derivatives products," Abraham explained. "Throughout 2025, CFX will also continue to promote the growth of Derivative products, which serve as hedging instruments, ensuring that even when the Spot price of crypto assets declines, Derivative transactions for hedging positions remain active".

Meanwhile, Andrew Hidayat, one of the shareholders of PT Indokripto Koin Semesta Tbk (COIN), expressed optimism regarding the future of the crypto industry in Indonesia, particularly through COIN's role as a leading player in the sector. He stated that the presence of over 200,000 customers demonstrates COIN's strong user base, poised to grow as a pillar of the national digital economy. Andrew conveyed that with its status as a public company, COIN will gain greater transparency and broader public and investor oversight. This is believed to strengthen corporate governance and attract foreign investors, especially as regulations become more supportive.

"With us being open like this, I think especially foreign players will be able to see our performance, our GCG, our corporate governance," Andrew told reporters after attending COIN's share listing at the IDX. "I think they will be more comfortable, and the OJK regulation is very welcoming to foreign investors".

Andrew believes Indonesia has a great opportunity to become a primary crypto market in Southeast Asia, similar to the success of other crypto industry figures at the regional level. He also hopes COIN can contribute to developing derivative products such as stablecoins fully backed by the government and strengthening the tokenization of real-world assets (RWA).

"I think the crypto industry will have many derivative products, like stablecoins; perhaps those who understand crypto here know USDT, USDC. Perhaps in Indonesia, we will also launch a one-to-one stablecoin by the government, 100% fully backed by the Rupiah, so that it can become a coin adopted in Southeast Asia. That is our aspiration at COIN," he clarified.

Concluding his statement, Ade Wahyu reiterated that COIN's presence on the stock exchange marks a momentum for Indonesia to become a crypto asset trading hub in Southeast Asia, rather than merely a market. "Going forward, with the support of regulators, relevant institutions, and a trusted exchange infrastructure, Indonesia can facilitate clearer and safer cross-border transactions for crypto asset trading in Indonesia," Ade concluded.