How CFX Monitors 24/7 Crypto Trading Without Interruption
JAKARTA, Investortrust.id – Crypto trading operates 24/7, even on holidays and New Year’s Day, posing unique challenges for PT Central Financial X Indonesia, also known as CFX. As the world’s first government-regulated crypto exchange, CFX emphasizes cutting-edge technology and human resources to maintain reliable operations.
“This is one of CFX’s key challenges moving forward: ensuring crypto trading runs seamlessly 24 hours a day, even on public holidays,” said CFX CEO Subani during the Investortrust Convergence Podcast held at the CFX headquarters in Jakarta on Friday (Jan. 17, 2025).
CFX, established in July 2023, plays a pivotal role in fostering a safe and innovative digital asset ecosystem in Indonesia. Subani noted that one of the company’s biggest challenges is ensuring instant transaction settlements, unlike the T+2 system common in traditional stock exchanges.
“When customers sell their crypto assets, they must receive their funds immediately. There is no T+2 settlement here. This requires a robust operational infrastructure to support instant transactions,” he explained.
To achieve this, CFX employs a three-shift system, ensuring constant monitoring and smooth operations around the clock. “We operate in three shifts per day to maintain optimal oversight. This may set us apart from other exchanges,” Subani added.
Young Generations Driving Growth
Indonesia’s younger generation is fueling the rapid growth of the domestic crypto market. “Young people are accustomed to instant transactions, making crypto a favorite. Just like online shopping, where payments are processed instantly, crypto aligns perfectly with this demand,” Subani said.
The Commodity Futures Trading Regulatory Agency (Bappebti) of the Ministry of Trade reported that crypto transactions in Indonesia reached IDR 556.53 trillion from January to November 2024, a 356.16% increase compared to the same period in 2023.
As of November 2024, the number of crypto investors in Indonesia has reached 22.11 million. With crypto prices continuing to rise, digital assets are increasingly attracting the attention of the broader public.
A Vision for the Future
CFX’s commitment to leveraging technology and adapting to market demands positions it as a key player in Indonesia’s burgeoning crypto landscape. By addressing challenges such as 24/7 operations and instant settlements, the exchange continues to innovate and meet the evolving needs of the market.