PT Indokripto Koin Semesta Tbk (COIN) has officially been listed on the Indonesia Stock Exchange (IDX), becoming the first cryptocurrency-based company to go public on the local stock market.

According to trading data on the IDX board, COIN's stock soared by 35% on its debut, hitting the upper limit Auto Rejection (ARA) at Rp 135 per share. The company issued a total of 2,205,882,400 shares during its initial listing.

The initial public offering (IPO) price was set at Rp 100 per share, allowing the company to raise fresh capital amounting to Rp 220.58 billion. Remarkably, the IPO was oversubscribed by over 180 times, with more than 200,000 prospective investors placing orders.

Ade Wahyu, President Director of Indokripto Koin Semesta, stated during the listing ceremony at the Main Hall of the IDX, South Jakarta, on Wednesday (July 9, 2025), that the strong enthusiasm from the public for COIN’s stock reflects a growing acceptance of crypto assets in society and invited all stakeholders to participate in ensuring oversight of the sector.

He elaborated that Indonesia ranks third globally in terms of crypto adoption, based on the latest report from the Chainalysis Global Crypto Adoption Index, and he emphasized that Indonesia is now the leading country in Southeast Asia in terms of crypto usage.

The growth is further supported by the rising number of local crypto users, which has reached 14.16 million people as of April 2025, up from 12 million in January 2025.

He added that with the supervision of the CFX Exchange and the ICC custodian, the crypto industry in Indonesia has significantly contributed to the increase in national crypto transaction volumes, which reached Rp 650.61 trillion by the end of 2024.

“Indonesia currently ranks third globally and first in ASEAN for crypto adoption, with more than 14.2 million users and a peak transaction value of Rp 650 trillion by the close of 2024,” he added.

Regarding the use of IPO proceeds, the company revealed that the funds would be allocated to working capital for its subsidiaries. Approximately 85% of the funds will go to CFX, in the form of equity participation, which will support technology development, reserves, and general operational expenses.

The remaining 15% of the IPO funds will be provided to ICC, another subsidiary, also in the form of equity participation, and will likewise be used for working capital purposes.