Prabowo's Younger Brother Now Controls Indonesia's Crypto Exchange

The crypto industry in Indonesia continues to grow rapidly and is attracting increasing attention from various groups. Not only retail investors and tech players, but also prominent national figures are now starting to delve deeper into the digital asset sector.

One of the most attention grabbing younger brother of President of the Republic of Indonesia Prabowo Subianto, Hashim Djojohadikusumo, who is now secretly taking part in Indonesian crypto exchange business. 

This move is considered strategic, not only from a business perspective, but also in the context of strengthening a more regulated and sustainable digital economic ecosystem.

Prabowo's Younger Brother Enters Crypto Exchange via COIN

Prabowo's younger brother's entry into the Indonesian crypto industry occurred through a significant corporate move. 

According to a circulating press release, PT Arsari Nusa Investama, part of the Arsari Group, officially became a shareholder PT Indokripto Koin Semesta Tbk (COIN).

Arsari Group is known as a large business group with a cross-sector portfolio, ranging from natural resources, logistics, to strategic investments.

The group's entry into the crypto exchange is seen as a strong signal that digital assets are now considered a serious sector and no longer just a passing trend.

This step is also in line with the government's vision of strengtheningIndonesia's digital economic sovereignty, especially in the crypto asset sector which is now under the supervision of financial regulators.

Read Also: Profile of Yudo Sadewa, the son of Finance Minister Purbaya and a crypto scalper. 

Strategic Reasons Behind Arsari Group's Investment

The Arsari Group believes that COIN has a solid foundation because it operates within a licensed ecosystem and is supervised by relevant authorities. This is a crucial factor amid growing public concern about the security and governance of the crypto industry.

With increasingly mature regulations, Indonesia is seen as having significant potential to become a regional hub for digital asset innovation and trading. This investment is seen as a first step toward strategic positioning in the future.

The presence of a large group like Arsari is expected to strengthen corporate governance, expand the network, and encourage COIN's expansion to a more competitive level, both domestically and internationally.

Read Also: Crypto Assets of Yudo Sadewa, Son of the Minister of Finance 

COIN Welcomes Prabowo's Younger Brother

From COIN's management perspective, the Arsari Group's entry was welcomed very positively. They viewed this move not only as a matter of additional capital, but also as a matter of reputation, public trust, and access to cross-sector expertise.

Support from large business groups is considered capable of accelerating product innovation, increasing management professionalism, and strengthening COIN's position amidst increasingly fierce competition on Indonesian crypto exchanges.

Read Also: Finance Minister Purbaya's Son Announces New Crypto Token, Check It Out! 

Competition on Indonesian Crypto Exchanges Heats Up

Prabowo's younger brother's entry into the crypto exchange business has further intensified the competitive landscape. Previously, several other prominent figures were also reported to be preparing to enter the industry by establishing new crypto exchanges.

This competition is not only about who is the fastest, but also who is most prepared in terms of capital, technology, regulatory compliance, and market trust.

Meanwhile, the regulator itself emphasized that the licensing process remains strict, encompassing institutional evaluations, technological systems, and operational readiness.

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The Crypto Industry Amidst the Revision of the P2SK Law

The momentum of the entry of these big players occurred at the same time as the discussion/revision of the P2SK Law, which also restructures the financial industry, including crypto assets.

The revision introduces the concept of a dedicated crypto asset agency under the Financial Services Authority (OJK). 

These new regulations have the potential to significantly alter the industry landscape. The role of crypto exchanges could shift, with some activities becoming more centralized and standardized.

On the one hand, this increases oversight and consumer protection, but on the other hand, it raises discussions about the potential for excessive centralization.

Read Also: 5 Must-Read Crypto Books for Beginners 

Conclusion

The move by Prabowo's younger brother, Hashim Djojohadikusumo, to enter Indonesia's cryptocurrency exchange business through his shareholding in COIN is a strong signal that the digital asset industry is now in the mainstream of the national economy. 

Support from a large business group like Arsari Group has the potential to accelerate the growth of a more mature, secure, and regulated crypto ecosystem.

However, amidst these significant opportunities, challenges also pose significant challenges. Changing regulations, intense competition, and issues of centralization are key factors that will determine the future direction of the Indonesian crypto industry.

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FAQ

Who is Prabowo's younger brother who entered the crypto business?

He is Hashim S. Djojohadikusumo, through the Arsari Group who invested in PT Indokripto Koin Semesta Tbk (COIN).

What is COIN?

COIN is a company engaged in the crypto asset exchange and trading ecosystem in Indonesia.

Why is Prabowo's younger brother's entry in the spotlight?

Because it involves prominent national figures and marks the increasing interest of the economic-political elite in the crypto industry.

Is the Indonesian crypto industry regulated?

Yes, the crypto industry is now under regulatory scrutiny with increasingly stringent and structured rules.

What is the impact on crypto investors?

The entry of large players can increase confidence and stability, but investors still need to do research and understand the risks.