INDODAX
INDODAX is Indonesia's largest centralized cryptocurrency exchange, founded in 2014, serving 10+ million registered retail members with 500+ listed crypto assets, spot trading, OTC services, staking, and an education platform under OJK regulatory oversight.
- Company typePrivate
- Founded2014
- HeadquartersJakarta, Indonesia
- Headcount251–500
- GTM typeB2C
- OfferingServices
What INDODAX does
INDODAX (legal entity: PT Indodax Nasional Indonesia) is Indonesia's largest cryptocurrency exchange, founded in 2014 originally as Bitcoin.co.id (Bitcoin Indonesia). The company operates a centralized exchange platform supporting trading of more than 500 cryptocurrencies — including IDR and USDT pairs, tokenized stocks, meme coins, RWA, AI & Big Data, Layer 1 & 2, NFTs, and DeFi tokens — alongside complementary services such as a dedicated OTC desk (otc.indodax.com), staking via INDODAX Earn, mobile applications on iOS and Android, and the Indodax Academy education platform with over 1,415 articles, glossaries, and a coin-rating tool. The exchange implements AI-based biometric Liveness Detection for KYC and is licensed by Otoritas Jasa Keuangan (OJK) as a Digital Financial Asset Trader (PAKD), registered as a member of PT Central Finansial X (CFX) and PT Kliring Komoditi Indonesia (KKI), and certified to ISO 9001:2015 and ISO 27001:2022 by BSI Group.
The company serves over 10 million registered members, primarily Indonesian retail crypto investors, with secondary segments including Muslim investors seeking sharia-compliant crypto guidance (post-Muhammadiyah and MUI fatwas) and RWA-oriented investors. Distribution is product-led and self-serve across web and mobile, supported by a content-marketing engine (Indodax Academy, YouTube, Telegram, social media) and a referral program that lowers acquisition cost in a market where crypto literacy is the primary barrier. Revenue is generated through trading transaction fees on spot trades, OTC service fees on large-volume transactions, and token listing fees from issuers seeking distribution to the Indonesian user base; trading fee percentages are not publicly disclosed. The company operates three offices in Jakarta (Sudirman headquarters and Pondok Indah) and Bali (Legian) with a headcount of 251–500 employees and, per the only disclosed institutional event, raised approximately $1 million from East Ventures in November 2017.
INDODAX firmographics
Firmographics- Name
- INDODAX
- Legal name
- PT Indodax Nasional Indonesia
- Website
- https://indodax.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- INDODAX is Indonesia's largest centralized cryptocurrency exchange, founded in 2014, serving 10+ million registered retail members with 500+ listed crypto assets, spot trading, OTC services, staking, and an education platform under OJK regulatory oversight.
- Ownership category
- akta.pro rank
INDODAX industry classification
Industry- Product category
- Cryptocurrency Exchange
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)
- akta.pro secondary industry
- Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)
Keywords
Where INDODAX is headquartered
LocationHeadquarters
- HQ city
- Jakarta
- HQ country
- Indonesia
- HQ region
- Asia
Offices3 records
Markets served
INDODAX business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others
Revenue model
- Trading Transaction Fees: INDODAX generates revenue primarily through trading transaction fees charged on buy/sell orders executed on the platform. The exchange matches buyers and sellers and collects a fee per transaction.
- Token Listing Fees: Revenue generated from listing new tokens and coins on the exchange platform, such as the EDENA Token listing
- OTC (Over-the-Counter) Trading Services: Specialized trading services for large-volume transactions outside the standard exchange order books
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Trading Platform |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
INDODAX product offering
Product offeringCore offering
INDODAX operates a centralized cryptocurrency exchange platform that enables Indonesian users to buy, sell, and trade over 500 cryptocurrency assets with IDR and USDT trading pairs. The platform offers spot trading, OTC trading for large-volume transactions, staking services for earning rewards, and a mobile application ecosystem. Supporting services include Indodax Academy for crypto education and biometric authentication for KYC verification.
Product overview
INDODAX operates as a comprehensive cryptocurrency exchange platform ecosystem consisting of a core trading platform with over 500 listed crypto assets, supported by complementary services including Academy for education, Coin Rating for market analysis, and OTC for large-volume trades. The platform serves over 10 million registered users in Indonesia since its founding in 2014, offering both IDR and USDT trading pairs across desktop web and mobile applications.
Differentiator
Problem solved
Functional benefit
Brands
- Indodax Academy: Educational platform offering crypto and blockchain learning resources, tutorials, and articles for Indonesian investors.
- OTC Indodax
Products and services
- INDODAX Exchange Platform Centralized cryptocurrency exchange platform enabling Indonesian retail investors to buy, sell, and trade over 500 cryptocurrency assets with IDR and USDT trading pairs through spot trading functionality.
- INDODAX OTC Trading Over-the-counter trading service for large-volume cryptocurrency transactions, providing personalized support for substantial trades outside standard exchange order books.
- INDODAX Mobile Application Native iOS and Android mobile applications enabling users to trade cryptocurrency, access market data, and manage their portfolios on the go.
- INDODAX Staking (Earn) Cryptocurrency staking feature allowing users to earn rewards by holding certain tokens on the platform.
- INDODAX Trade API Public trading API providing programmatic access to the INDODAX exchange for developers and algorithmic traders.
Companies that use INDODAX
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles1 record
INDODAX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability3 records
Feature2 records
INDODAX partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- PT Central Finansial X (CFX)coreCFX is Indonesia's pioneer licensed cryptocurrency exchange and Indonesia's Digital Financial Asset Exchange (eXchange). INDODAX is registered as a member of CFX. The partnership involves joint industry initiatives such as the CFX Knight Award and crypto literacy programs with universities.
- PT Kliring Komoditi Indonesia (KKI)coreKKI is the commodity clearing institution in Indonesia. INDODAX is registered as a member of KKI for commodity clearing services related to crypto asset transactions.
- EDENA TokenminorEDENA Token listed on INDODAX exchange, allowing global investors to access tokenized assets across ASEAN and MENA markets including real estate and carbon credits.
- University of Indonesia (UI)minorPartnership for crypto asset literacy and developing human resources for the digital financial ecosystem through MoU signed with CFX.
- Gadjah Mada University (UGM)minorPartnership for crypto asset literacy and developing human resources for the digital financial ecosystem through MoU signed with CFX.
- STAN State Financial PolytechnicminorPartnership for crypto asset literacy and developing human resources for the digital financial ecosystem through MoU signed with CFX.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
INDODAX competitors and assessment
Company assessmentDirect peers
- Tokocrypto: Indonesian cryptocurrency exchange founded in 2018 and backed by Binance Labs; directly competes with INDODAX for Indonesian retail spot trading volume and operates under the same OJK/CFX regulatory framework.
- Pintu: Indonesian crypto exchange and on-chain wallet provider (formerly known as PINTU) targeting retail users with mobile-first UX; competes head-to-head with INDODAX for Indonesian retail deposits and token listings.
- Pluang: Indonesian multi-asset investment platform offering crypto alongside US stocks, mutual funds, and gold; competes for the same retail investor wallet share as INDODAX with broader asset diversification.
- Ajaib: Indonesia's leading stock trading app that has expanded into crypto; targets the same first-time retail investor demographic as INDODAX with a multi-product proposition.
Broad incumbents
- Binance: Largest global cryptocurrency exchange by volume; competes with INDODAX indirectly in Indonesia via the Binance-backed Tokocrypto and through global users accessing USD-stablecoin pairs, though it is not directly licensed domestically.
- Coinbase: US-listed public crypto exchange leader; relevant comparable on regulatory compliance depth, custody architecture, and exchange economics that frame INDODAX's potential public-market trajectory.
- OKX: Global spot and derivatives crypto exchange with deep liquidity; serves as comparable on global exchange economics even though it does not directly target Indonesian retail through a domestic license.
- Bybit: Global crypto derivatives and spot exchange competing for international retail flow; useful comparable on fee structure, mobile UX, and educational content investment even though it is not a licensed Indonesian venue.
- Kraken: Long-standing US-headquartered crypto exchange known for security and regulatory compliance; relevant comparable for INDODAX's emphasis on ISO certifications and licensed status in a market where compliance is becoming a moat.
- Crypto.com: Global crypto exchange and card-issuing platform with heavy sports/brand marketing; analogous on retail customer acquisition strategy and product breadth (exchange + staking + cards) that INDODAX may eventually pursue.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
INDODAX social profiles
Digital presenceINDODAX compliance and trust
Trust signalCompliance6 records
INDODAX financial estimates
Financial estimateRevenue estimate
Valuation estimate
INDODAX leadership team
Management profileNumber of profiles
Profiles2 records
INDODAX funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
INDODAX M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about INDODAX
What does INDODAX do?
INDODAX operates a centralized cryptocurrency exchange platform that enables Indonesian users to buy, sell, and trade over 500 cryptocurrency assets with IDR and USDT trading pairs. The platform offers spot trading, OTC trading for large-volume transactions, staking services for earning rewards, and a mobile application ecosystem. Supporting services include Indodax Academy for crypto education and biometric authentication for KYC verification.
Is INDODAX a public or private company?
INDODAX is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was INDODAX founded?
INDODAX was founded in 2014. It employs 251 to 500 people.
Where is INDODAX based?
INDODAX is headquartered in Jakarta, Indonesia, in the Asia region.
How does INDODAX make money?
Three revenue lines are on record. Trading Transaction Fees are the primary driver. The others are token Listing Fees and OTC (Over-the-Counter) Trading Services.
Who are INDODAX's main competitors?
Direct peers on record are Tokocrypto, Pintu, Pluang and Ajaib. Broad incumbents are Binance, Coinbase, OKX, Bybit, Kraken and Crypto.com.
Does INDODAX have an API?
Yes. INDODAX exposes a public API. Developer documentation is at indodax.com/trade_api.
What industry is INDODAX in?
INDODAX's product category is Cryptocurrency Exchange. Its primary akta.pro industry code is FSADAAAA, Spot Crypto Exchanges (Order-Book & Matching Engine), with a secondary code of FSADAAAG, Crypto Custody & Exchange Wallet Services (Integrated). Its NAICS code is 5231 and its SIC code is 6200.