Indonesia enters the global top 10 crypto markets in 2025

Key points:

• The number of crypto investors in Indonesia continues to increase despite lower trading volumes.
• The market is largely driven by young users focused on long-term investment.

Interest in cryptocurrencies in Indonesia remains strong. The investor base keeps expanding even as overall trading activity declines. Indonesia’s Financial Services Authority (OJK) reports that cryptocurrencies continue to attract young investors, who are not deterred by the high risks associated with digital assets.

According to Hasan Fawzi, Head of the Agency for Supervision of Financial Technology Innovation (ITSK), total crypto transaction volume in 2025 reached IDR 482.23 trillion. For comparison, the figure exceeded IDR 650 trillion in 2024. This shows that while the market has cooled in terms of activity, public interest remains intact.

Young investors drive the crypto market

By the end of December 2025, Indonesia had 20.19 million registered crypto investors. A large share of new participants consists of young, working-age individuals, who continue to fuel user growth across the market.

Despite declining trading volumes, overall engagement remains high. This has not had a negative impact on tax revenues. Fawzi noted that even with fewer transactions, government income from the crypto sector increased. In November alone, crypto-related tax revenues totaled IDR 719.61 billion.

According to the seventh edition of the Indonesia Crypto & Web3 Report 2025, the country ranks among the world’s top ten crypto markets. Within the Asia-Pacific region, Indonesia places fourth in terms of blockchain transaction volume, behind only India, South Korea, and Vietnam.

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The report states that more than 19 million users in Indonesia actively trade cryptocurrencies or hold them in wallets. This indicates that the market has moved beyond the early stage of retail adoption and is laying the groundwork for future institutional participation.

Retail investors still dominate the market, but their behavior has become more cautious. Around 58.2% of investors prefer long-term holding strategies, while only 20.2% focus primarily on short-term trading.