Indonesia's Crypto Market Surges to Rp482.23 Trillion in 2025

OJK Approves Second Crypto Exchange

The Indonesian crypto market demonstrated remarkable growth in 2025, with total transaction value reaching Rp482.23 trillion ⁴

. This significant milestone was supported by a substantial increase in the number of crypto investors, which grew to 19.56 million by November 2025, representing a 2.5% month-on-month increase from 19.08 million in October 2025 ¹

Source 1

https://finance.detik.com/moneter/d-8298943/jumbo-transaksi-kripto-sepanjang-2025-tembus-rp-482-t

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Source 4

https://investasi.kontan.co.id/news/ojk-catat-total-nilai-transaksi-kripto-tembus-rp-48223-triliun-di-2025

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In a significant regulatory development, the Financial Services Authority (OJK) issued a license to PT Fortuna Integritas Mandiri to operate as a crypto exchange under the brand name International Crypto Exchange (ICEX) ²

. This approval creates a more competitive market structure by breaking the previous monopoly held by PT Central Financial X (CFX). The new exchange is expected to enhance market discipline and operational standards through healthy competition ²

Source 2

https://investasi.kontan.co.id/news/resmi-ojk-terbitkan-izin-bursa-kripto-kedua-icex-siap-beroperasi

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Market Dynamics and Regulatory Oversight

While the annual transaction value showed impressive growth, reaching Rp482.23 trillion in 2025 ⁴

, monthly data revealed some fluctuations. In December 2025, crypto transaction values experienced a 12.22% monthly decline to Rp32.68 trillion ³

Source 3

https://investasi.kontan.co.id/news/ojk-catat-nilai-transaksi-kripto-turun-1222-pada-desember-2025

. Despite this monthly decrease, the overall annual performance remained robust, reflecting the growing maturity of Indonesia's crypto market.

The OJK has emphasized the importance of maintaining proper governance, prudent risk management, and optimal consumer protection as the market expands ²

. These regulatory measures aim to ensure the sustainable development of the digital asset ecosystem in Indonesia.