Indonesia's crypto market has indeed experienced significant growth, with crypto transactions rising over 350% in a year. This remarkable increase can be attributed to various factors, including the country's large and digitally savvy population, as well as the government's efforts to regulate the crypto market.¹

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In fact, Indonesia has been ranked third globally in terms of crypto adoption, with the highest year-on-year growth in adoption of almost 200%.² The country also leads the world in DeFi value received and retail DeFi value received, showcasing Indonesians' enthusiasm for digital payments.

The growth of the crypto market in Indonesia is also driven by the increasing number of crypto users, which has risen from 9.9 million in 2021 to 28.52 million in 2024. With a population of over 280 million, the potential for further growth is substantial.