Indokripto (COIN) Shares Surge for Three Straight Days After IPO Listing
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JAKARTA, investortrust.id – Shares of PT Indokripto Koin Semesta Tbk (COIN) soared for the third consecutive day on Friday, following the company’s historic listing on the Indonesia Stock Exchange (IDX) earlier this week. The rally reflects investor confidence in the future of crypto assets and Indonesia’s growing role in the digital asset economy.
At Friday’s opening, COIN surged 34.07% to Rp244 per share, marking its third straight trading session of hitting the upper auto rejection limit (ARA). On Thursday, the stock jumped 34.81% to Rp182, while on its debut Wednesday, it skyrocketed 35% to close at Rp135 per share.
The bullish momentum stems from overwhelming demand during the initial public offering (IPO) period held from July 2–7, 2025. COIN’s IPO was oversubscribed by more than 180 times, with over 200,000 investors placing bids, according to company data.
A Global First: Listed Crypto Exchange Ecosystem Player
COIN is touted as the world’s first public company from a crypto exchange ecosystem to be listed on a national stock exchange. The company is the holding entity of PT Central Finansial X (CFX), a licensed crypto asset exchange, and PT Kustodian Koin Indonesia (ICC), a custodian institution for digital assets.
COIN President Director Ade Wahyu said the strong public response to the IPO underscores growing trust in digital assets as a legitimate investment class.
“This milestone reflects public confidence in crypto assets and our role in building a transparent and regulated ecosystem with strong corporate governance,” Ade said in a press statement on Friday, July 11, 2025.
He also emphasized that COIN’s public listing marks a step forward in enhancing transparency and accountability in Indonesia’s crypto asset industry.
Indonesia's Soaring Crypto Adoption
According to the latest Chainalysis Global Crypto Adoption Index, Indonesia now ranks third globally, up from seventh, making it the top country in Southeast Asia for crypto adoption.
Government figures show crypto users reached 14.78 million by May 2025, up from 12 million in January. Monthly transaction volumes also climbed to Rp49.57 trillion in May, compared to Rp35.61 trillion in April.
By the end of 2024, Indonesia's total crypto transactions exceeded Rp650.61 trillion, reinforcing its position as one of the world’s most dynamic digital asset markets.
“Through CFX and ICC, we aim to establish a sustainable and trustworthy ecosystem that can serve as the backbone of Southeast Asia’s crypto economy,” said Ade.
Financial Performance and Use of IPO Funds
COIN raised Rp220 billion through the IPO at an offer price of Rp100 per share. According to Finance Director Abraham Nawawi, 85% of the funds will be allocated to CFX, while 15% will support ICC’s operations.
As of December 2024, the company posted a net profit margin of 42.32%, reflecting solid performance and revenue growth.
“We’re optimistic about boosting revenue in 2025, particularly through new derivative crypto products developed by CFX,” Abraham said. “Derivatives provide a hedging mechanism, allowing continued activity even when spot prices decline.”
Vision: From National Leader to Regional Crypto Hub
Ade concluded that COIN’s listing marks a pivotal moment in the evolution of Indonesia’s financial markets and its ambition to become a Southeast Asian crypto hub.
“With support from regulators and trusted exchange infrastructure, Indonesia is well-positioned to facilitate secure cross-border crypto transactions and lead regional innovation,” he said.