Signs of rising crypto adoption in Indonesia

Cryptocurrency investments in Indonesia have seen considerable growth between 2020-2022, with 4% of the country’s population having invested in crypto.

In 2021, crypto transaction volumes surpassed $34 billion, according to Indonesia’s Commodity Futures Trading Regulatory Agency.

This growth has formed a new mindset toward crypto investment, especially in the mainstream media. One example of cryptocurrencies’ growing appeal in the mainstream is the participation of Indonesian celebrities and influencers.

Crypto adoption among celebrities

Celebrities and influencers in Indonesia seem to have become much more involved in Indonesia’s crypto investment industry since 2021.

Many have become brand ambassadors for exchanges and crypto projects to help promote them and essentially raise the trading volume.

The participation of individuals such as Joe Taslim, an Indonesian actor that has gone global, and Indonesian models and actresses Jessica Iskandar and Shandy Aulia might not be surprising, considering celebrities’ inescapable presence in advertising and branding.

Some celebrities have even created their own cryptocurrency.

The trend of celebrity tokens has boomed, especially after one of the most prominent musicians in Indonesia, Anang Hermansyah, created his own token.

Three tokens have gone viral in Indonesia as of February 2022: VCG (VCG), Asix (ASIX) and I-Coin (ICN).

Asix is led by Anang Hermansyah, a prominent figure in Indonesia’s music industry.

VCG went viral thanks to a partnership with RANS Entertainment. This company is owned by Raffi Ahmad and Nagita Slavina, a married couple who are prominent movie stars and business figures in Indonesia and were recently nominated as the Sultans of Contents by Forbes Indonesia.

I-Coin was created by Wirda Mansur, a public figure and daughter of a renowned Indonesian Islamic cleric.

The name of celebrities supporting them and their marketing team has made their token viral and gotten a lot of fear of missing out, or FOMO, from Indonesia’s newbie investors.

But, long…


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