Jakarta. Investor enthusiasm and interest in the shares of Indokripto Koin Semesta (COIN) continue to surge. Since its debut on the stock exchange on Wednesday, July 9, COIN shares have hit the upper auto rejection (ARA) limit for three consecutive days.

At the opening of trading on Friday, July 11, COIN shares soared by 34.07 percent, or 62 points, reaching Rp244 per share. The previous day, COIN shares also hit ARA after rising 34.81 percent to Rp182 per share. On its first day of trading, COIN surged 35 percent to Rp135 per share, immediately triggering another circuit breaker.

This strong investor enthusiasm for the world's first publicly traded company from the Crypto Asset Exchange ecosystem was already evident during its Initial Public Offering (IPO) period, which ran from July 2 to 7. The IPO was oversubscribed more than 180 times, with over 200,000 prospective investors placing orders.

Ade Wahyu, President Director of  Indokripto Koin Semesta (COIN), said the high public interest in COIN shares reflects growing trust in crypto assets as an investment instrument. He is optimistic that this strong start will serve as a positive momentum for COIN's journey in building a transparent, regulated crypto asset ecosystem with strong Good Corporate Governance (GCG) practices.

"We are grateful to the regulators, supporting professionals, partners, and investors for their trust and support in welcoming COIN's presence on the stock market. As the parent company of Central Finansial X (CFX), a crypto asset exchange, and Kustodian Koin Indonesia (ICC), a custodian institution, we believe the enthusiasm for COIN shares reflects broader public acceptance of crypto assets and calls for shared responsibility in ensuring proper oversight," said Ade in Jakarta on Friday.

Ade emphasized that by going public, COIN strengthens its position within an integrated and regulated crypto asset ecosystem, with publicly accessible records and improved accountability for the Indonesian crypto industry.

According to the latest Chainalysis Global Crypto Adoption Index report, Indonesia now ranks third globally in crypto adoption, rising from its previous position of seventh. This makes Indonesia the top country in Southeast Asia for crypto adoption.

The rise in global crypto adoption is supported by a growing number of national crypto users, which reached 14.78 million as of May, up from 12 million in January 2025. This increase parallels a rise in total crypto transaction value, which reached Rp 49.57 trillion in May, up from Rp 35.61 trillion the previous month.

Public interest in crypto assets, now under the supervision of CFX Exchange and ICC Custodian, has contributed to the overall crypto transaction volume in Indonesia, which totaled Rp 650.61 trillion by the end of 2024.

"Through CFX Exchange and ICC Custodian, which operate transparently, innovatively, and adhere to good governance principles, we believe Indonesia’s crypto industry will continue to grow positively and sustainably. Our goal is for CFX and ICC not only to serve as a home for the domestic crypto industry but also to become the leading crypto trading hub in Southeast Asia," Ade explained.

Abraham Nawawi, COIN’s Chief Financial Officer, added that the company successfully raised Rp220 billion from its IPO, with an offering price of Rp100 per share. He stated that the proceeds will be used to support the working capital needs of its subsidiaries: 85 percent for CFX and 15 percent for ICC.

So far, COIN is backed by strong financial performance. As of the end of December 2024, the company recorded a significant year-on-year revenue increase, with a net profit margin of 42.32 percent.

"The company is optimistic about increasing revenue by the end of 2025 through product development by its subsidiaries, including crypto derivatives. Throughout 2025, CFX will continue to promote the growth of derivative products, which function as hedging instruments. This means that even if spot crypto prices decline, derivative transactions can still be used for risk management," Abraham explained.

According to Ade, COIN’s listing on the stock exchange marks a pivotal moment for Indonesia to become a center for crypto trading in Southeast Asia, not just a market. "With support from regulators, relevant institutions, and reliable exchange infrastructure, Indonesia can facilitate clearer and safer cross-border crypto transactions," Ade said.