Indonesian Crypto Traders May Outrun Stock Investors
March 15, 2018
Pretty soon a youthful cryptocurrency exchange of Indonesia will draw ahead of 106-year-old stock market by customer number.
Chief executive at Digital Asset Exchange (INDODAX) Oscar Darmawan has claimed, the platform will have 1.5 mln of registered users by the end of 2018. With thousands of newcomers registering daily the crypto exchange now estimates 1.14 mln users.
The Indonesian stock market makes up 1.18 mln participants trading shares, futures, exchange funds and binary options to the total tune of $520 bln.
Bali-located INDODAX offers purchasing bitcoin for fiat and cryptocurrency trading. The chief executive also reported, the exchange is processing an average sum of 100 bln rupiah ($7.3 mln) daily which is expected to double by the year’s end.
Specific attention must be drawn to retail investors’ interest in cryptocurrencies growing now in the region despite pressure exerted by state.