Jakarta. PT Indokripto Koin Semesta Tbk, known by its ticker symbol COIN, officially made its debut at the Indonesia Stock Exchange (IDX) on Wednesday.

It also became the 18th issuer at the IDX this year. It also became the world's first crypto asset exchange to join the Indonesian capital market.

COIN held its initial public offering (IPO) on July 2 to 7, a debut that had seen positive responses from investors. The stock was oversubscribed by more than 180 times, with over 200,000 investors submitting orders.

COIN President Director, Ade Wahyu, said that the massive enthusiasm reflected the growing trust in crypto assets. This optimism also marks a strong beginning for COIN's journey toward building a transparent, well-regulated crypto asset ecosystem with strong corporate governance (GCG) principles.

“We would like to thank regulators, supporting professionals, partners, and investors for their trust and support in welcoming COIN to the stock market. As the parent company of PT Central Finansial X [CFX], the Crypto Asset Exchange, and PT Kustodian Koin Indonesia [ICC], we believe the public’s enthusiasm for COIN shares demonstrates broader acceptance of crypto assets and calls for collective supervision,” Ade was quoted as saying in a press statement.

Ade further explained that by becoming a public company, COIN is strengthening its integrated crypto asset ecosystem to be more regulated and accountable, with its activities now subject to public oversight.

According to the latest Chainalysis Global Crypto Adoption Index, Indonesia ranks third globally in crypto asset adoption, up from its previous position at seventh -- making it the leading country in Southeast Asia for crypto adoption.

The global rise in crypto adoption is supported by Indonesia’s growing number of crypto users, which reached 14.16 million people as of April 2025, up from 12 million in January. This growing interest in crypto as a regulated investment instrument, under the oversight of CFX Exchange and ICC Custodian, has driven total national crypto asset transactions to Rp 650.61 trillion by the end of 2024.

“Through a transparent and innovative exchange and custodian system that upholds good corporate governance, we believe Indonesia’s crypto industry will continue to grow positively and sustainably. Eventually, CFX Exchange and ICC Custodian are expected to not only serve the Indonesian crypto industry but also become the central hub for crypto trading in Southeast Asia,” Ade explained.

COIN's Chief Financial Officer, Abraham Nawawi, added that the IPO raised a total of Rp 220 billion, with an offering price of Rp 100 per share. According to Abraham, the IPO proceeds will be used to support working capital needs for its subsidiaries—CFX receiving 85 percent and ICC receiving 15 percent.

So far, COIN is backed by solid financial performance. As of December 2024, COIN recorded a significant year-on-year increase in revenue, achieving a net profit margin of 42.32 percent of total revenue.

“We are optimistic about increasing our revenue by the end of 2025 through product development and business expansion by our subsidiaries, including crypto derivative products. Throughout 2025, CFX continues to promote the growth of derivatives products, which serve as hedging instruments, allowing transactions to continue even when spot crypto prices decline,” Abraham said.

Ade concluded that COIN’s presence in the stock market is a milestone for positioning Indonesia as a crypto trading hub in Southeast Asia, not just a market.

“Going forward, with support from regulators, relevant institutions, and reliable exchange infrastructure, Indonesia can facilitate safer and more transparent cross-border crypto transactions,” Ade said.

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