Indonesia remains among the world’s leading crypto markets, ranking 14th globally in Chainalysis’ 2026 Global Crypto Adoption Index.
The ranking also places Indonesia among the key crypto markets in the Asia-Pacific (APAC) region. Nine of the top 20 countries in this year’s index are from APAC, including Japan, South Korea, India, Thailand, China, Indonesia, Australia, Vietnam, and the Philippines.
Indonesia ranked one spot ahead of Australia at No. 15, while Vietnam and the Philippines came in at No. 18 and No. 19, respectively.
The results highlight Indonesia’s continued significance in the global crypto economy, despite challenging market conditions during the measurement period.
Read more: Indonesia Sees Crypto Potential as a New Source of Investment Capital
Indonesia’s Position in the 2026 Global Crypto Adoption Index
At first glance, Indonesia’s position appears to have declined from the previous year. In Chainalysis’ 2025 Global Crypto Adoption Index, Indonesia ranked seventh globally and fourth in decentralized finance (DeFi) activity.
However, the change in ranking does not necessarily indicate a decline in crypto adoption.
Chainalysis significantly revised the methodology behind its Global Crypto Adoption Index in 2026. Previous editions focused more heavily on grassroots adoption, measuring how intensively people in a country used crypto relative to the size and economic conditions of that market.
The new methodology takes a broader view of each country’s crypto economy.
In 2026, Chainalysis assessed four main components: flows into crypto services such as exchanges and DeFi platforms, domestic peer-to-peer (P2P) activity, cross-border transactions, and crypto assets held on-chain.
Chainalysis said the updated methodology was designed to provide a more accurate picture of the scale and usage of crypto economies across countries.
Under the new methodology, Brazil ranked first with a crypto economy valued at US$252.5 billion, followed by the United States, Nigeria, Japan, and South Korea.
Read more: OJK Prepares to Integrate Crypto into Indonesia’s Financial System
Indonesia Maintains a Large Crypto User Base
Indonesia’s global ranking is also supported by its sizable domestic crypto user base.
Data from Indonesia’s Financial Services Authority, known locally as Indonesia Financial Service Authority (OJK), showed that the number of registered digital financial asset customer accounts reached 22.93 million as of July 2026, up from 22.69 million a month earlier.
During the same month, crypto asset transactions in Indonesia reached Rp20.52 trillion, while digital financial asset derivatives recorded Rp3.41 trillion in transaction value.
Indonesia’s regulated crypto ecosystem is also supported by two crypto exchanges, two clearing institutions, two custodians, and 27 licensed digital financial asset traders, according to OJK.
The figures suggest that while trading volumes continue to fluctuate with market conditions, Indonesia’s crypto user base continues to expand.
Crypto Usage Remains Resilient Despite Market Downturn
Chainalysis’ 2026 Global Crypto Adoption Index also points to a broader shift in how crypto assets are being used worldwide.
During the 12 months ending June 30, 2026, the global crypto economy measured by Chainalysis reached approximately US$9.4 trillion, down just 1.6% from the previous period.
The decline was relatively modest compared with the roughly US$2.1 trillion lost from total crypto market capitalization over the same period.
Meanwhile, domestic P2P activity surged 302.9% to US$228.7 billion, while cross-border stablecoin transactions increased 77.5% to US$220.3 billion.
The average cross-border stablecoin transaction was around US$3,000. According to Chainalysis, transactions of this size are more consistent with everyday economic activity, including supplier payments, remittances, and storing value in currencies perceived as more stable, rather than large institutional transfers.
Taken together, the data suggests that crypto usage is increasingly extending beyond speculative trading. For markets such as Indonesia, the 2026 ranking reflects not only the size of its investor base, but its position within a broader APAC region that continues to play a major role in global crypto activity.
