COIN Jumps 35% in Indonesia’s First Crypto Exchange IPO
Jakarta. Shares of Indokripto Koin Semesta (IDX: COIN) soared in their trading debut on the Indonesia Stock Exchange Wednesday, marking Indonesia’s first crypto exchange operator to list on a public market.
The stock jumped 35 percent to Rp135 per share at the open, hitting the exchange’s upper trading limit, from its initial public offering price of Rp 100 per share, reflecting strong investor appetite despite rising global market uncertainties.
“The public’s enthusiasm for COIN shares demonstrates trust in crypto assets as an investment instrument,” CEO Ade Wahyu said during the listing ceremony at the IDX Main Hall in Jakarta. “We thank regulators, partners, and investors for supporting COIN’s entry into the stock market.”
COIN raised Rp 220 billion ($13.3 million) from the IPO, according to CFO Abraham Nawawi.
Founded in 2022, COIN is the parent company of Central Finansial X (CFX), Indonesia’s only crypto exchange currently licensed and regulated by the Financial Services Authority (OJK), and Kustodian Koin Indonesia (ICC), a licensed crypto custodian. The company also provides consulting services to its subsidiaries.
The company plans to allocate 85 percent of the proceeds to CFX and 15 percent to ICC to support working capital needs as it expands operations in Indonesia’s crypto ecosystem. CFX currently counts 31 registered exchange members, 19 of which are licensed crypto traders, and 7 futures brokers operating under its exchange umbrella
Ade said COIN’s decision to go public amid global uncertainty aims to encourage greater public oversight of its performance and strengthen accountability within Indonesia’s crypto trading market. “This will create a safer environment for crypto trading in Indonesia,” he added.
COIN reported a net profit margin of 42.32 percent as of December 2024 and expects to boost revenue by year-end 2025 through product development and expansion initiatives, including crypto derivatives under its subsidiaries.
Read More: Indokripto Eyes $14 Million in Indonesia’s First Crypto IPO
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