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1 week ago

April 25, 2024

Stephen Douglas

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Indodax Boss Says Southeast Asia Has the Potential to Become a Crypto Industry Leader

Liputan6.com, Jakarta – The development of crypto assets in the Southeast Asia region is currently experiencing a significant increase. Based on research results from Statista, the crypto market in this region is estimated to reach USD 1,787 million or around IDR 27.5 trillion in 2024.

The Southeast Asia region is also predicted to grow by 8.75 percent over the next four years. Commenting on this, Indodax CEO, Oscar Darmawan stated his commitment to continuing to create a healthy crypto ecosystem in Indonesia.

Oscar said, based on the results of a survey conducted by Chainalysis, Indonesia was ranked fifth as the country with the largest crypto growth in the world, with a profit of USD 1.06 billion.

“This ranking shows that interest and adoption of crypto assets continues to grow in Indonesia,” said Oscar in a press release, quoted Thursday (25/4/2024).

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Indonesia Could Be a Key Player

On the other hand, Oscar also said that Indonesia has great potential to become a key player in the crypto industry in the Southeast Asia region. However, to realize this potential, strong support is needed from all relevant parties.

“We believe that with close cooperation between the public and private sectors, we can create an ecosystem that is friendly to innovation and new technology, which in the end will provide great benefits for the Indonesian people and the economy as a whole,” explained Oscar.

Oscar also explained that Indonesia has great opportunities and a strong foundation for developing the crypto industry. He said, as many as 69 percent of Indonesian people are in the age range of 15 to 64 years. Indonesia will also experience a demographic bonus in 2045.

“According to data from the Ministry of Finance, 80 percent of the majority of Indonesia's population is still not or is not well-reached by banking services. “This opens up wide opportunities for crypto industry players to educate them as an effort to increase crypto adoption in Indonesia,” he said.