Bitcoin trading in Indonesia set to outpace stock trading

The biggest Indonesian platform to buy and sell digital currency may soon have more members than the nation’s century-old stock exchange.

Indonesia Digital Asset Exchange, formerly known as Bitcoin.co.id, will have 1.5 million members buying and selling digital currencies such as Bitcoin by the end of the year, according to chief executive officer Oscar Darmawan. The platform, which began its operations in 2014, currently has 1.14 million investors, he said.

In contrast, Indonesia Stock Exchange, which offers stocks, futures and options and exchange-traded funds, has only 1.18 million registered participants, according to data from the Indonesia Central Securities Depository.

The CEO went on to say “We are seeing almost 3,000 new members signing up everyday…most people are trading in Bitcoin.”


Write: Richard Abermann


 

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